India, May 26 -- Fintech firm One 97 Communications, which operates under the Paytm brand, on Monday said its wholly-owned subsidiary Paytm Cloud Technologies will invest 9 million euro in its European payment entity.

"...The Board of Directors of PCTL (Paytm Cloud Technologies Limited)... has approved an additional investment by way of subscription to 9 million equity shares of EUR 1 (one euro only) each at a total consideration of EUR 9 million (nine million euro), in its wholly-owned subsidiary, Paytm Europe Payments S.A (Paytm Europe)," the company said in a filing.

The transaction is aimed at increasing the paid-up capital of Paytm Europe to support the funding requirements for its business. The transaction is expected to be comple...