CHENNAI/BENGALURU: With facing heat for its billing policies, the search for a national app store alternative to the Play Store is gathering pace. Paytm is leading a coalition of entrepreneurs towards this search, while homegrown app store Indus App Bazaar is pitching itself as a ‘Made in India’ product to “democratise app access”.
Paytm founder Vijay Shekhar Sharma on Thursday announced a new fund of Rs 10 crore to back mini-app developers on its platform. “This means that they will have an equity investment. These investment terms will be one of the most lenient one can expect,” Sharma said. In a display of its distribution power, Paytm — which unveiled its app-in-app service earlier this week — said it has 150 million monthly active users.