PayMe, a fintech platform, announced on Thursday that it will invest Rs 200 crore in Uttar Pradesh to create 2,000 jobs, with a focus on training and developing skilled resources in the fintech industry.

In the presence of Shailendra Bhatia, OSD YEIDA and Nodal Officer for UP Investors Summit, Manav Munjal, Director of PayMe, and Vishal Ranjan, VP of HR, the company signed a memorandum of understanding (MoU) with the state government.

"I come from Gorakhpur, a tier II district, where obtaining a quality education and getting job opportunities were scarce. Now that we have the means to give back to society, it is our duty to be a part of the UP Investor Summit initiative," said Mahesh Shukla, Founder and CEO of PayMe.

According to the fintech company, the investment will contribute to the growth and development of the fintech sector in Uttar Pradesh, creating new opportunities for the local workforce.

"PayMe has been growing at a tremendous pace, having expanded six times in terms of employee count in the past year, and we anticipate generating 5,000 employment opportunities in the next 5 years," said Shukla

PayMe, based in Noida, was founded in 2016 and provides a range of comprehensive financial services to individuals and businesses.

The company was ranked among the top 30 emerging FinTech start-ups with a seed capital of $2 million.