Paytm, an Indian e-commerce payment system and digital wallet company, is holding discussions to purchase insurance marketplace Coverfox.
Paytm intends to buy Coverfox Insurance in a $100 to $120 million cash transaction.
More so, the Paytm board is in the process of finalising the contours of the acquisition.
Last year, Coverfox booked $22 million in revenue whereas Paytm has around $120 million in revenue annually.