New Delhi: Ratan Tata, chairman emeritus of Tata Sons, has joined Paytm as an advisor. 76-year-old business tycoon has also made a minor investment in Noida-based firm.
Vijay Shekhar Sharma, founder of Paytm, told Times if India, "I am happy that someone like him (Tata) has put his faith and trust in our values and mission. There is no better adviser for Paytm."
China's e-commerce company Alibaba has also invested in Paytm.
Paytm, which claims to be India's largest mobile commerce platform, has also planned to build about 100 million wallets by this year. At present it has 25 million active wallets and is looking to directly compete with online retailers like Flipkart, Amazon and Snapdeal.
Prior to this, Ratan Tata had joined Kalaari as advisor signaling his keen interest in e-commerce in India.
Tata has so far invested in e-commerce ventures as Snapdeal, Bluestone, Urban ladder and Car Dekho.