Clix Capital is in advanced talks with One97 Communications, which controls Paytm, for a strategic stake in its planned peer-to-peer (P2P) lending platform.
AION Capital, which has an 85 per cent stake in Clix Capital, was formed by buying the commercial lending and leasing business of GE Capital in India. The remaining portion of the equity in the company is held by former Genpact founder Pramod Bhasin and former head of DE Shaw in India Anil Chawla.
Paytm and AION Capital spokespersons declined to comment on the negotiations or share any details. However, a source close to Paytm said that talks were at an advanced stage, adding: “The two sides have had multiple discussions. Now the finer points of the deal are being discussed. This deal, if it happens, will help Paytm kick-start the P2P lending business.”
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