Through this alliance, the lending process is to be simplified via speed enhancement, transparent pricing, improved customer experience and reduced borrowing cost for businesses of all sizes.
Paytm is keen on expanding its seller base and plans to focus on SME development.
Lendingkart uses Big Data analytics and other proxies to assess the creditworthiness of the small business owners wherein most of the credit risk analysis is done digitally so that loans can be disbursed in less than 48 hours even in the semi-urban and tier-2 cities.
Alibaba Group and Ant Financial Services Group and One97 Communications, the parent company of Paytm, have agreed to make a strategic investment in Paytm earlier this year.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now