Paytm Approves 85 Lakh Loans In 90 Days! Loan Dispersal By Paytm Increase By Whooping 492% Across India

Paytm Approves 85 Lakh Loans In 90 Days! Loan Dispersal By Paytm Increase By Whooping 492% Across India
Paytm Approves 85 Lakh Loans In 90 Days! Loan Dispersal By Paytm Increase By Whooping 492% Across India

On Monday, the Fintech giant, Paytm, announced that it disbursed 8.5 million loans in the first quarter ending June 2022.

6x Growth For Paytm

Interestingly, the figure is nearly 6X or 492 percent higher than the corresponding period a year ago.

During this quarter, the loan value disbursed was Rs 5,554 crore.

Which is about 8.7X higher than last year at Rs 632 crore, according to the Paytm mentioned in a filing to the BSE.

Further, adding that the firm has an Annualised Run Rate (ARR) of over Rs 24,000 crore now.

Highest Consumer Engagement

Paytm said consumer engagement on app is at its highest with a monthly transacting users (MTU) at 74.8 million for the quarter ended June. 

Which is a 49 percent jump year-on-year (YoY).

Further adding, “The Paytm Super App continues to see heightened consumer engagement for the company’s comprehensive payment offerings. For the month of June alone, the MTU stood at 75.9 million,”.

Hyper Focused Lending Business

It appears that Paytm has hyper focused on its lending business In the last couple of years.

Especially since it was listed on the stock exchange in 2021. 

According to the analysts, UPI is becoming the preferred mode of payment over cards, wallets, and net banking services.

This way, its lending business is Paytm’s best bet to set itself apart from the competition.

Wide Market Penentration

Basically, the fintech company’s wide market penetration gives it a big pool to extend its lending services. 

Considering the numbers, it seems that there are many takers.

Moving ahead, the fintech firm said that it is seeing an increase in the average ticket size due to the scale-up of the personal loans business, in its latest filing. 

Coming to Paytm’s merchant gross merchandise value (GMV), the total value of merchandise sold over a given time was Rs 2.96 lakh crore, up 101 percent.

Compared to the year-ago period, its monthly transacting users, which measures the level of engagement on an app, rose 49 percent.

Paytm’s shares were up 0.31 percent at Rs 700.45 in mid-day trading on Monday. 

Since Paytm’s debut in November 2021, shares have fallen 64.2 percent as of Friday’s trading session close. 

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