Paytm was like my daughter who had an accident: Vijay Shekhar Sharma

Paytm founder Vijay Shekhar Sharma reacted to RBI’s action against Paytm Payments Bank. Due to this, he had to resign from his role as part-time non-executive chairman. According to the entrepreneur, this was like a personal blow for him.

On Saturday, Vijay spoke at the 7th foundation day of JITO Incubation and Innovation Fund (JIIF) and gave a metaphorical example of the experience he had with his company. He said Paytm was like his daughter who met with an accident. Talking about his earlier years in the business, he revealed that his existing funds were exhausted while raising funds in 2013, 2014 and 2015. If they had gone under, no one would have batted an eyelid. But now they have such an identity which is important.

The entrepreneur explained: “For me as the founder of the company, my company is like my daughter. As a company, we have grown up. It is as if my daughter, who is the best in her class, had an accident on the way to an entrance exam.” He added: “It is a very personal, emotional feeling.”

Vijay Shekhar Sharma admitted that this setback was challenging for him and took a lot of emotional toll on him. However, it was also a lesson for him on how to take on professional responsibilities. He said, “On a professional level, I would say we should have done better, that’s no secret.” According to him, they had to take on responsibilities that they could have done “much better.”

According to reports, Vijay also talked about his ambitions, dreams and successes as well as his low points. Mentioning a personal goal, he revealed that he wants to build a $100 billion company. Moreover, one of his other goals is to get Paytm recognized globally as an Indian company. He further mentioned that taking a company public requires “a lot more responsibility and maturity”, which also comes with its joys.