From Coke bottles to Lay’s packets: The unlikely growth hack that powered Paytm’s journey

Paytm’s founder Vijay Shekhar Sharma has often spoken about the company’s unorthodox journey, but a recent retelling by venture capitalist Deedy Das has reignited interest in the fintech’s early stories. In a social media post, Das shared anecdotes from his meeting with Sharma, painting a vivid picture of how India’s largest digital payments platform was built on grit, risk and unexpected hacks.

One of the most striking revelations was that in the midst of a financial crunch, Sharma sold 40 per cent of Paytm for just $17,000 to settle a loan. That stake, Das noted, would later be worth over $100 million.

Sharma also spoke about Paytm’s inadvertent role in creating PayPay in Japan, which went on to become one of that country’s biggest payments systems. While the experiment highlighted Paytm’s technical edge, the company itself was compelled to concentrate on the Indian market rather than expand overseas.

Another story described what Sharma considered a powerful growth hack: embedding Paytm QR codes on Coca-Cola bottles and Lay’s packets, which consumers could scan to redeem Rs 15. The tactic, tied to everyday consumer brands, turned out to be a low-cost, high-impact way of onboarding millions of users.

Das, who posted a photograph with Sharma alongside these accounts, called him a “legendary” and “OG Indian internet entrepreneur”.