Not Just PocketFM, Ex Paytm Employees Running Over 22 Startups Are Now Worth Rs 10,000 Crore
The Paytm crisis is far from over but it looks like the former employees who had quit the fintech company to start their own businesses are doing pretty well for themselves. With over 22 startups launched by them, they have hit a collective valuation of ?10,668 crore, according to a report from Private Circle.?
PocketFM which recently raised a big round of funding was co-founded by Rohan Nayak, a former product manager at Paytm
Other famous companies started by the ex employees include Park+ founded by Amit Lakhotia, former business head of Paytm wallet and Indiagold - a gold loan platform, founded Deepak Abbot and Nitin Misra, former business head of Paytm Postpaid.
Junio, a digital pocket money platform for students, audio dating platform Frn, eyewear brand Cleardekh, Genwise Club, an online club for elders, footwear brand Yoho, vending machine startup Daalchini and cybersecurity company Kratikal Tech are some of the other success stories.
The report further stated that many of these companies were established in the wake of Paytm's ESOP buyback worth Rs 300 crore in January 2018.
Approximately 24% of these startups operate in the fintech sector, with e-commerce, media and entertainment, and software-as-a-service following closely behind. Together, these companies have generated 2,500 job opportunities in the country, with Pocket FM, Park+, Unnati, and Indiagold being among the leading firms.
