CreditMate founders have sold their stake to Paytm, co-founder and chief commercial officer Aditya Singh said in
LinkedIn post.
“Happy to announce that we have successfully exited CreditMate. Paytm Group will now become 100% beneficial owner of the business. As a cofounder, I have been through this journey to manage and manage all operations at CreditMate. I am fortunate to have led the company in the past few months of transition,” Singh said.
He added, “Proud to help build a strong business in the field of collection technology and I wish the team the very best for the future. I have no doubt that CreditMate is poised for great heights.”
In the LinkedIn post, Singh also indicated that he will now focus on building a new startup.
established by Jonathan Bill, Ashish Doshi, swati girl and Aditya Singh in 2016, a Mumbai-based startup a collections platform that helps lenders collect overdue payments from borrowers. As per the details available on its website, the startup has been authorized to aggregate for over 30 lenders including Paytm, True Balance, MoneyTap, Zest, Capital Float, Cars24.
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In November 2017,
Paytm invested an undisclosed amount in the startup. Earlier, the Mumbai-based startup had raised $500,000 from India Quotient,
ET had reported in October 2016.