False: Paytm is a Chinese app.

Paytm, an Indian e-commerce payment system and financial technology company, was founded by Vijay Shekhar Sharma and is located in Noida, India.Paytm is India's leading financial services company that offers full-stack payments & financial solutions to consumers, offline merchants, and online platforms. One97 Communications Limited, which owns Paytm, was founded by Vijay Shekhar Sharma and is headquartered in Noida, Uttar Pradesh. It started as a prepaid mobile and DTH recharge platform and later added data card, postpaid mobile, and landline bill payments in 2013. Paytm's investors include Softbank, Ant Financial, AGH Holdings, SAIF Partners, Berkshire Hathaway, T Rowe Price, and Discovery Capital. In March 2015, Paytm received a huge stake from Chinese e-commerce company Alibaba Group, after Ant Financial Services Group, an Alibaba Group affiliate, took a 25 percent stake in Paytm as part of a strategic agreement. Even though Paytm has investments from a China-based company, it was founded in India and is an Indian app.