Vijay Shekhar Sharma, founder of Paytm, transformed the digital payments landscape in India with his innovative vision.

Vijay Shekhar Sharma – Founder of Paytm

From Humble Beginnings to Billionaire Entrepreneur

Vijay Shekhar Sharma, the visionary founder of Paytm, has built one of India’s largest companies from the ground up. Starting with just Rs. 10 in his pocket, he has become a symbol of entrepreneurial success, with a net worth of $1.2 billion.

Early Life

Born on June 7, 1978, into a middle-class family in Aligarh, Uttar Pradesh, Sharma was heavily influenced by his father, a schoolteacher who valued education deeply. Completing his schooling at the age of 14 from a Hindi medium school, Sharma faced significant challenges with English. Recognizing its importance, he taught himself the language by reading old magazines and borrowing books, tackling both English sentences and their translations simultaneously.

Vijay Shekhar Sharma, founder of Paytm, transformed the digital payments landscape in India with his innovative vision.

Education and Early Career

Sharma secured admission to Delhi College of Engineering (now Delhi Technological University) to pursue an engineering degree. However, his transition from a Hindi-medium school to an English-medium college was fraught with difficulties, leading to a decline in his academic performance. Despite these challenges, Sharma’s passion for technology and entrepreneurship began to take shape.

While most of his peers were focused on securing placements, Sharma was driven by a different vision. He co-founded XS Communications, a content management company, with his college friends. The company developed a CMS (content management system) used by prominent publications like The Indian Express. However, the venture faced financial difficulties, leading Sharma to borrow Rs. 8 lakhs from a bank at a steep interest rate of 24%. This decision plunged him into a cycle of debt, forcing him to take odd jobs to repay the loan.

The Birth of Paytm

In 2010, Sharma founded One97 Communications, the parent company of Paytm, initially focusing on mobile content and commerce. Inspired by the potential of mobile technology and the need for digital payment solutions, Sharma envisioned a mobile wallet service that could simplify financial transactions for millions of Indians. This vision led to the creation of Paytm in 2010.

Sharma’s hard work, patience, and determination paid off. He independently raised $2 million to launch Paytm, focusing on building trust through internet wallets and exceptional customer service. This approach won over customers and laid the foundation for Paytm’s success. The company grew rapidly, becoming a key player in India’s digital payments ecosystem and expanding into e-commerce, financial services, and more.

Achievements and Recognitions

Vijay Shekhar Sharma’s entrepreneurial journey has been marked by numerous accolades:

  • Best Serial Entrepreneur Award (2022) at the Rural and Urban Development Summit and Awards
  • Youngest Indian Billionaire by Forbes
  • Entrepreneur of the Year (2018) by AIMA
  • One of Time Magazine’s 100 Most Influential People (2017)
  • ET Entrepreneur of the Year (2016)
  • GQ’s 50 Most Influential Young Indians (2017)
  • Dataquest IT Man of the Year (2017)
  • Honorary Doctorate from Amity University (2016)
  • Yash Bharati, Highest State Civilian Award of Uttar Pradesh (2016)
  • Businessman of the Year at GQ Men of the Year Awards (2016)
  • NDTV Indian of the Year (2016)
  • Impact Person of the Year (2016)
  • India’s Hottest Business Leader Under 40 (2015) by The Economic Times
  • CEO of the Year by SABRE Award (2015)

Personal Life

Vijay Shekhar Sharma is married to Mridula Parashar Sharma, and they have a child together. He draws inspiration from tech industry icons like Alibaba’s Jack Ma and Softbank’s Masayoshi Son. Sharma’s personal and professional life is driven by a relentless pursuit of innovation and a commitment to overcoming challenges.

Vijay Shekhar Sharma with his family

Challenges and Setbacks

In 2024, Sharma faced a significant setback when he resigned as part-time non-executive chairman of Paytm Payments Bank Limited (PPBL) amidst regulatory scrutiny by the Reserve Bank of India (RBI) over compliance issues. PPBL was prohibited from accepting deposits and credits after March 15, 2024, due to persistent non-compliance and supervisory concerns. The RBI’s actions led to a restructuring of the Board of Directors of PPBL.

Paytm Payments Bank

Founded in 2017 and headquartered in Noida, PPBL became a scheduled bank in 2021. Despite Sharma’s majority stake, the bank faced regulatory challenges that culminated in the RBI’s intervention in 2024. The newly appointed Board of Directors included industry veterans like Srinivasan Sridhar, former Chairman of Central Bank of India; Debendranath Sarangi, a retired IAS officer; Ashok Kumar Garg, former Executive Director of Bank of Baroda; and Rajni Sekhri Sibal, a former IAS officer. This restructuring aimed to address regulatory concerns and ensure compliance with RBI standards.

Legacy and Future Vision

Despite the challenges, Vijay Shekhar Sharma’s impact on India’s digital economy is undeniable. His journey from a small-town boy to a billionaire entrepreneur exemplifies the power of determination, innovation, and resilience. Sharma’s vision for Paytm continues to evolve, with the company expanding into new markets and developing innovative financial products to serve a broader customer base.


Vijay Shekhar Sharma’s story is a testament to the transformative power of perseverance and vision. From overcoming language barriers and financial struggles to building one of India’s most influential tech companies, Sharma’s journey is a beacon of inspiration for aspiring entrepreneurs. His success demonstrates that with determination and passion, one can achieve remarkable heights and make a lasting impact on the world.


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