Ahead of the Uttar Pradesh Global Investors Summit 2023, fintech firm PayMe has signed a Memorandum of Understanding (MoU) with the state government for an investment worth Rs 200 crore.
According to the MoU, PayMe will be investing money in the Yamuna Authority. The investment is expected to create 2,000 jobs in the area, focusing on training and developing skilled resources.
The MoU was signed on Wednesday at the Yamuna Authority office in presence of Shailendra Bhatia, OSD YEIDA and Nodal officer for UP Investors Summit and Manav Munjal, Director of PayMe and VP of HR Vishal Ranjan.
Uttar Pradesh Global Investors Summit 2023 is scheduled from 10-12 February 2023. It is the flagship investment summit of the government of Uttar Pradesh. It will bring together policymakers, industry leaders, academia, think tanks and leaders from across the world to collectively explore business opportunities and forge partnerships.
Prime Minister Narendra Modi will visit Lucknow on Friday to inaugurate the Uttar Pradesh Global Investors Summit 2023.
"PayMe has been growing at a tremendous pace, having expanded six times in terms of employee count in the past year, and we anticipate generating 5,000 employment opportunities in the next 5 years. Uttar Pradesh is a shining example of ease of doing business. We are thrilled about this investment and eagerly look forward to the start of this exciting initiative," said Mahesh Shukla, Founder and CEO of PayMe.
Shukla added the firm aims to be a part of the growth and development journey of Uttar Pradesh.
Founded in 2016, Noida-based PayMe India offers a pool of financial services for individuals and corporates.
( With inputs from ANI )
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