Paytm-backed CreditMate in talks with big banks to contain loan defaults

Mumbai-based CreditMate started off as a fintech lender but is now focusing whole heartedly on collection

Paytm backed fintech startup CreditMate is in talks with some of the big banks in the country to help stem the NPA (Non-Performing Assets) crisis by streamlining collections.

“Conversations are on with the big banks. We are ready to partner and share our technology powered platform. We have observed that the problem in India is not on lending but on the collection side. Today, we handle 25 lenders and after five months of going live, we manage $100 million on our platform”, said Jonathan Bill, founder and chief executive officer, CreditMate.

Bill refused to disclose names of the banks. Trends show that