Parent firm of Paytm – One 97, took media spaces, announcing that they had taken a stake in online lending startup CreditMate. The Mumbai based fintech startup deals mainly with two wheeler dealers and financiers’ assess & approval of vehicle loans. Though the company didn’t divulge the exact figure involved in the deal, Paytm management however sees CreditMate as a long term partner in their effort to reach the unorganized sector.
CreditMate is the latest entrant to the list of investments made by Paytm so far in the consumer and fintech firms, the business of which involves with payment bank & mobile wallet ecommerce. Valued at $9 billion, Paytm’s next investment is expected to be on online grocery seller, ‘BigBasket’.
