Digital financial services firm One97 Communications, which operates under the Paytm brand said its loan distribution business reached an annual run rate of Rs 25,000 crore in July.
In June, the company reported an annual run rate of around Rs 24,000 crore for the loan distribution business. The number of loans disbursed through the Paytm platform jumped close to four times to 29.46 lakh in July 2022, while the value of loans disbursed soared to Rs 2,090 crore on a year-on-year basis.
Paytm stated, “Our loan distribution business (in partnership with top lenders) continues to witness accelerated growth with disbursements through our platform now an annualized run rate of over Rs 25,000 crore in July.”
The gross merchandise value on Paytm increased 82 per cent to Rs 1.06 lakh crore in July 2022 from Rs 58,000 crore in July 2021. The monthly transacting users on Paytm grew by 41 percent to 7.8 crore from 5.5 crore on YoY basis.
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