Indian business-to-business (B2B) payment solutions provider PayMate has acquired online lender Z2P Technologies in a cash and stock transaction. The financial details of the deal were not divulged.

The acquisition will enable PayMate to strengthen its business of financing small and medium enterprises (SMEs).

PayMate founder & MD Ajay Adiseshann said: “We will leverage Z2P and PayMate’s technology and analytics to speed up the credit application and the credit decision-making processes for SMEs and provide supply chain financing solutions to our large corporate clients.”

Founded in 2016, Z2P Technologies offers micro-loans by utilising technology and data. Following the acquisition, the company is expected to relocate itself to Mumbai.

Z2P co-founder Rajat Yadav said: “Technology and data-driven actionable intelligence for lending, along with machine learning, is what Z2P has built over the past few years.

“We look forward to joining the PayMate team and collaborate our credit and payment technologies, along with our experience to enhance the quality and flow of credit to SMEs in India.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Recently, PayMate was selected by Visa to power all its B2B payments, according to The Times of India.

Its banking partners include State Bank of India, HDFC Bank, Axis Bank, Kotak Bank, Syndicate Bank, ABN Amro and other entities.