Financial services startup with a focus on mobile payments, Paytm, has purchased new land in its home state of Uttar Pradesh.

The new land was purchased for a new headquarters in the same city of Noida as its current headquarters.

“In addition to providing a platform for scaling up operations, this new facility would help us attract and engage the best talent in the country,” Kiran Vasireddy, COO of Paytm, said in an email, as reported by Economic Times.

The new purchase of 10 acres will provide a larger office space for the head of the company, as opposed to the startup’s current main location which is 48,000 sq ft.

The new planned space could accommodate over 15,000 people and will be built to be environmentally friendly, Vasireddy said. The company’s current headquarters is the official workspace of around 760 people.

According to Economic Times, the acquisition could have cost around Rs 120 crore to Rs 150 crore for the fintech startup.

Founded by Vijay Shekhar Sharma, Paytm provides users with a mobile wallet platform to ease in e-commerce transactions among other uses. SAIF Partners and Sapphire Ventures are among investors in the company, according to Paytm’s Linkedin profile.

“We have around 20,000 employees working with Paytm, including our agent network. We are adding around 10,000 employees every year to support our growth targets,” Vasireddy said.

Since its founding in 2010, the company has launched offices in Kolkata, Mumbai, Bengaluru, Chennai and Delhi-NCR, while expanding to a 20,000-member team.

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