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Paytm takes over Digital learning start-up CreditMate

October 05, 2021

Paytm takes over Digital learning start-up CreditMate

Initial public offering bound payment service provider Paytm has obtained a 100% stake in Mumbai-based digital lending startup CreditMate.

“The Paytm Group will currently become 100% beneficial owners of the business,” said Chief Commercial Officer and Ex Co-Founder of CreditMate, Aditya Singh in a LinkedIn post.

The transaction and other details of the deal have not been revealed. In any case, as per Singh’s post, founders will be exiting the business.

Established in 2019 by Jonathan Bill, Ashish Doshi, Swati Lad, and Aditya Singh, CreditMate is a collection platform that assists lenders to collect overdue payments from borrowers.

It has a technology-based credit engine, which utilizes information-driven calculations that permit the appraisal of clients’ validity for loans quickly when compared to traditional lending solutions.

As per its site, the start-up has been authorized to collect for more than 30 lenders including Paytm, Capital Float, Cars24, MoneyTap among others.

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