Paytm is scaling up its lending operations – brings on board former Clix Capital CEO
Paytmhas appointed Bhavesh Guptaas SVP and CEO of its lending business. Gupta, had just recently resigned from his position as the CEO of Clix Capital.
- Clix Capital, which has been in partnership with Paytm for over a year now, is headed for a merger with Lakshmi Vilas Bank.
- Paytm’s lending operations will begin with lending from various NBFCs and bank partnerships.
“I plan to build along with a fantastic team the most cost-effective & consumer-friendly lending products for all citizens. The wealth management and financial service solutions that Paytm is building are transforming the lives of millions of Indians and are relevant globally as well,” said Gupta in a statement.
Interestingly, Clix Capital, which has been in partnership with Paytm for over a year now, is headed for a merger with Lakshmi Vilas Bank.
AdvertisementPaytm’s lending operations will begin with lending from various NBFCs and bank partnerships. Paytm Payments Bank is not yet allowed to lend according to the RBI.
“Paytm is on a mission to democratise diversified financial services in the country and access to credit for consumers and small businesses is a critical enabler to fulfil their ambitions and wishes,” said Amit Nayyar, President at Paytm.
The Vijay Shekhar Sharma-led Paytm has also been ramping up its offerings. It recently launched stock broking services and also forayed into insurance.
Paytm is set to launch its stock market trading service in the next few weeks, says founder Vijay Shekhar Sharma
WhatsApp is starting lending and insurance with a number of users that Paytm, PhonePe and Amazon took years to build
Popular on BI
- A student who accidentally became a millionaire with a cult following after selling his expressionless selfies as NFTs says he feels confused
- After 10-minute grocery delivery, a 15-minute ambulance service grabs investor interest
- Fortune oil maker Adani Wilmar is looking to acquire southern players in edible oil, FMCG industry
- Widening tax base should be a focus area in the Union Budget, says Primus Research
- India's electronics manufacturing and exports can reach $300 billion by 2025-26: MeitY-ICEA
- Swiggy is now valued more than Zomato
- OnePlus 10R with MediaTek Dimensity 9000 SoC tipped to launch in India by Q2 end
- IPL 2022: These are the foreign players who are retained by the teams ahead of the auction