IPO-bound Paytm exits stake in logistics platform Loginext

IPO-bound One 97 Communications, the parent entity of digital payments app Paytm, has exited its investment in logistics platform Loginext Solutions. Founded in 2014 by Sanghvi and Manisha Raisinghani, LogiNext is a software-as-a-service (SaaS) company that leverages machine learning and cloud technology to provide solutions to optimise logistics and field service operations. Paytm had invested USD 10 million in Loginext in 2015. The group held a 31.4% equity stake in Loginext as of March 31, 2020.