CreditMate is looking for an investment from Paytm.
source- News Kart
CreditMate is a digital lending start-up in Mumbai. It is looking to raise $5Mn-$10Mn in funding from Paytm. Paytm invested a disclosed amount in the start-up in November 2017 and before that in October 2016, CreditMate raised $500K from VC fund India quotient – CreditMate has developed a proprietary credit and asset valuation technology that Paytm wants to use to provide credit to both online and offline users in the future. CreditMate was founded by Jonathan Bill and Aditiya Singh in 2016 to provide affordable loans for second hand two-wheelers. According to CreditMate around 10,000 loans have been disbursed by them and they have received over 15,000 applications. Paytm recently revealed its plan to invest $745.16Mn (INR 5,000 CR) in payments and financial services. Paytm also plans to expand into new entrants such as Hike, Whatsapp, Google, etc. in the digital payment space. Hence, it is very careful about strategic investments and consolidations.