Paytm has acquired Near.in which is an online marketplace for hyper-local services.

It has acquired Near.in in a cash-and-stock deal that is estimated at between $1.5 million-$2 million (Rs 10 crore-Rs 13 crore).

Gurgaon based Near.in was founded in 2014 by Lomesh Dutta, Sunil Goyal and Akshay Khanna, and is a part of the country’s nascent but fast growing online to offline (020) space, and helps consumers discover services providers like plumbers, make up and tattoo artists in a locality.

It covers over 100 categories, including health, home needs and wellness.

Kiran Vasireddy, the senior vice president and head of investments for Paytm said that “O2O is a focus area for Paytm. Local commerce has massive potential in India, and this acquisition will help us grow the business even further”.

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