How Paytm's credit vertical is picking up momentum
Digital payments company Paytm is seeing some explosive growth in its credit vertical.
Paytm saw a 330 per cent jump year-on-year (YoY) in loan disbursals in December 2022. According to a regulatory filing, it disbursed 3.7 million loans worth Rs 3,665 crore in December. The number of loans disbursed was up 117 per cent YoY.
In the quarter ending December 2022, the loan value rose 357 per cent from Rs 2,181 crore in the quarter ending December 2021 to Rs 9,958 crore in the quarter ending December 2022.
The company's monthly transacting users (MTU) was up 32 per cent from 64 million in December 2021 to 85 million in December 2022. The Gross Merchandise Value (GMV) that was processed through the platform saw a 38 per cent growth YoY in December.
What did Paytm say in its filing?
"The number of loans grew 117 per cent YoY to 3.7 million for December, and 137 per cent YoY to 10.5 million cumulative loans for the three months ended December 2022," it said in the filing.
"The total merchant GMV processed through our platform for the quarter ended December 2022 aggregated to Rs 3.46 trillion, marking a YoY growth of 38 per cent," it said.
How do Paytm’s cash and cash balances look?
Paytm had net cash, cash equivalents and an investable balance of Rs 9,182 crore at the end of September, according to its quarterly earnings report.
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