IPO-bound Paytm acquires lending startup CreditMate

IPO-bound digital payments major Paytm has acquired a 100% stake in digital lending startup CreditMate for an undisclosed amount.

The founders of CreditMate have sold their stake to Paytm, cofounder and chief commercial officer Aditya Singh said in a LinkedIn post.

“Happy to announce that we have successfully exited CreditMate. 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.