Paytm entered the online bus ticketing space in 2015 and currently offers bus tickets across more than 62,000 routes.

Accounts advised by T Rowe Price Associates were among the new investors for the fund, Paytm said in a statement.

The company said it expects to employ technology across the growing internet to become the dominant player in AI.

India will celebrate 11.11 with the UC Shopping Festival in association with Paytm, VMate and 9Apps.

The remuneration for Sharma stood at a similar level in the last fiscal.

Paytm will consider getting listed on stock exchanges only after 2021 when the financial services company starts generating cash.

UCWeb also have plans to start the sale of movie tickets online.

Prior to Paytm Money, Pravin Jadhav worked with Servify and Rediff.com.

Currently, its market share in direct mutual fund subscriptions stands at around 40 per cent of total such subscriptions.

Paytm currently has a monthly active user base of around 140 million.