Paytm lending business records annualised run-rate of Rs 20,000 cr in April

One97 Communications said that Paytm’s lending business has recorded an annualized run-rate of Rs 20,000 crore of disbursement through its platform, and its device deployment crossed the 3 million mark.

The company in a regulatory filing updated it business performance for the month of April and said that its starting the fiscal on a strong base. Its lending business saw a total disbursal of 2.6 million loans during the month (y-o-y growth of 449%). This aggregates to a total loan value of Rs 1,657 crore ($221 million) during the quarter (y-o-y growth of 749%).

Offline payments business accelerated as total number of devices deployed jumped to 3.2 million with 0.3 million devices deployed in April 2022.

User engagement on Paytm Super App continued to grow, with monthly transacting users (MTU) at 73.5 million in April 2022, up 44% y-o-y. Paytm reported 102% Y-o-Y increase in merchant payment volumes (GMV) for the month at Rs 0.95 lakh crore ($12.7 billion)

“Our lending business (in partnership with top lenders) continues to grow at a rapid pace. The number of loans disbursed through our platform grew 449% y-o-y to 2.6 million loans in April 2022, while the value of loans disbursed grew 749% y-o-y to Rs 1,657 Cr ($221 million), an annualised run-rate of approximately Rs. 20,000 crores. We are also seeing increases in average ticket size due to the scale-up of the personal loans business in particular,” said the company in the filing.

The company also said that it continues to maintain its stronghold in the offline payments business with deployment of 3.2 million devices in stores, with an average rate of 300,000 deployments per month. “We expect this growth to contribute to a rise in the number of merchants eligible for loans,” said the statement.