Paytm acquires stake in lending startup CreditMate

Paytm has acquired an undisclosed stake in Mumbai-based lending startup CreditMate. As a part of the investment, Paytm will leverage CreditMate's asset valuation technology to create a loan management system, Paytm said. Founded in 2016 by Ashish Doshi, Jonathan Bill, and Aditya Singh, CreditMate helps two-wheeler dealers distribute vehicle loans to customers with no formal credit history.