Paytm on Tuesday said it has bought an undisclosed stake in Urja Money Pvt. Ltd, which evaluates 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.