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Paytm acquires stake in fintech company

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Paytm acquires stake in fintech company

India's Paytm E-Commerce Pvt. Ltd acquired a stake in Urja Money Pvt. Ltd., a company that evaluates the credit worthiness of borrowers, Mint reported Nov. 22, citing a company release.

Paytm plans to use Urja Money's proprietary CreditMate technology to create a loan management system and to offer loans to customers with limited credit history.

Details about the transaction were undisclosed.