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PayMate, India’s leading B2B payment processing company has successfully acquired Zaitech Technologies, a leading AI and Machine Learning based digital lending P2P company.
PayMate, a leading provider of electronic business to business (B2B) payment solutions has successfully acquired 100% of equity in Zaitech Technologies Private Limited (Z2P), an AI and Machine Learning based digital lending P2P platform. Both companies join forces to create end to end solutions across payments, account reconciliation and innovative alternative lending solutions.
The founder of PayMate, Ajay Adiseshann states: ““With a captive opportunity of USD 3bn in potential credit of which PayMate has facilitated 300m of credit to 20,000 businesses last year on the Paymate platform, this acquisition will help us accelerate deployment of credit with cutting edge lending technology to our customers.
Mihir Kapoor, Managing Director at IEG – India adds: “PayMate has established itself as a clear market leader in B2B Payment solutions and will achieve market leadership in SME lending
IEG – India was the sole financial advisors to PayMate and played an important role in helping identify and filter through several opportunities in digital lending and assisting PayMate in this transaction from inception to closure.
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