Online payment and shopping site Paytm has "acqui-hired" education technology start up Edukart, founded by Ishan Gupta. An acqui-hire is a deal between two companies where one firm is purchased by the other primarily for its staff’s skills and expertise. While Gupta has joined the company as its vice-president of business, his 50-member team has joined Paytm in various other roles. Gupta will be looking after Paytm’s seller financing team, Mint reported.

Confirming the development to The Times of India, Gupta said, "My whole team has joined Paytm in various roles. Their [Paytm] commerce business is expanding and has become a key business. I will be looking after the seller ecosystem for the company's commerce business. Having worked with One97 in the past the transition is expected to be quite smooth."

However, he has not revealed any other details about the deal. Gupta is also the founder and chief executive of Earth Education Valley Pvt. Ltd.