Paytm CEO: October loan disbursements rise 387% year-over-year
- As it expands its loan business, Paytm is on the road to profitability and free cash flow, according to Vijay Shekhar Sharma.
- Paytm disbursed loans worth Rs 3,056 crore in October, a 387 percent year-over-year (YoY) increase.
- In October, the company disbursed 3.4 million loans, recording YoY growth of 161%.In October, Paytm’s lending division had an annualised run rate of Rs 37,000 crore.
- The company’s offline payments division was boosted by the deployment of 5.1 million additional merchant subscription devices.