Paytm acquires 100% ownership of lending startup CreditMate

Paytm acquires 100% ownership of lending startup CreditMate

• Digital payment services provider Paytm has acquired 100% stake in Mumbai-based digital lending startup CreditMate. However, the transaction details of the deal have not been disclosed.
• The Paytm Group will now be the 100% beneficial owners of the business, while the co-founders of CreditMate will exit the business.
• CreditMate was founded in 2019 by Jonathan Bill, Ashish Doshi, Swati Lad and Aditya Singh as a collection platform that help lenders collect overdue payments from borrowers. 

Source: Livemint

Points to Remember:

1. Which company has recently acquired 100% in digital lending startup CreditMate? Paytm
2. What percent of stake has been acquired by Paytm in digital lending startup CreditMate?