Paytm lending business disburses 6.8 million loans at an annualised run rate of $4.8 billion.

Paytm, India’s leading digital payments platform, has announced that its lending business has disbursed 6.8 million loans at an annualised run rate of $4.8 billion. This is a significant milestone for the company, which had launched its lending business just 18 months ago.

Paytm’s lending business has grown rapidly thanks to the platform’s large user base and extensive merchant network. The company has also been able to benefit from the extensive data it has on users’ transaction history. This has allowed Paytm to develop sophisticated algorithms that can assess creditworthiness quickly and accurately.

The company is now looking to expand its lending business even further by partnering with banks and NBFCs. This will allow Paytm to offer even more loan products to its users. The company is also working on expanding its merchant network so that more businesses can offer Paytm’s lending products to their customers.

Paytm’s lending business is a great example of the company’s innovative approach to financial services. By leveraging its large user base and data advantages, Paytm has been able to develop a successful lending business in a short period of time. This is a great example of how India’s fintech sector is innovating and expanding.

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