IPO-bound digital payments major Paytm has acquired 100% stake in digital lending startup CreditMate for an undisclosed amount.
The founders of CreditMate have sold their stake to Paytm, founder and chief commercial officer Aditya Singh said in a LinkedIn post.
“Happy to announce that we have successfully exited Credit-Mate. The Paytm Group will now become 100% beneficial owners of the business. As a cofounder, I am fortunate to have managed all the functions at CreditMate during this journey and led the company over the past few months of transition,” Singh said. “Proud to have helped build a formidable business in the collections technology space and I wish the team the very best for the future. I have no doubt that CreditMate is poised for great heights,” he added.