Current Affairs - Business - Discussion

Paytm has bought an undisclosed stake in Urja Money Private Limited which evaluates the creditworthiness of people seeking loans to buy two-wheelers. Paytm will use Urja's proprietary CreditMate technology to create a loan management system in collaboration with lending partners. Mumbai-based Urja, incorporated in July 2016, has partnerships with banks and non-banking entities on the supply side and auto-dealers on the demand side. The company raised $500,000 from India Quotient last November.