July 06 - 16:07
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Paytm makes insurance play with $76m Raheja QBA acquisition
India's most valuable startup Paytm has made its first play in the country's lucrative insurance market with after agreeing to pay $76 million for insurance firm Raheja QBE. It will acquire 51% from Prism Johnson and 49% from QBE Australia in what will be an all-cash deal, according to TechCrunch. The deal will help Paytm add another service to its portfolio and accelerate its insurance ambitions.
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