Paytm Acquires Stake in online Loans Firm CreditMate

Posted on:23 Nov 2017 13:07:06
Paytm Acquires Stake in online Loans Firm CreditMate
23 November 2017 Current Affairs: Paytm has bought an undisclosed stake in Urja Money Private Limited which evaluates the creditworthiness of people seeking loans to buy two-wheelers.

Paytm will use Urja’s proprietary CreditMate technology to create a loan management system in collaboration with lending partners.

Mumbai-based Urja, incorporated in July 2016, has partnerships with banks and non-banking entities on the supply side and auto-dealers on the demand side.

The company raised $500,000 from India Quotient last November.

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