Go Ad-Free
    My Alerts
    Moneycontrol
    Moneycontrol PRO
    HomeNewsBusinessMuthoot Fincorp acquires 54% stake in Paymatrix

    Muthoot Fincorp acquires 54% stake in Paymatrix

    Muthoot Pappachan Group chairman Thomas John Muthoot told that they now hold majority in Paymatrix, having given full exit to many of the existing investors.

    PTI
    June 21, 2021 / 22:54 IST
    Muthoot Fincorp

    Gold loan company Muthoot Fincorp has picked up 54 per cent stake in Hyderabad-based fintech startup Paymatrix by buying out existing investors as part of its added focus on digital payments segment.

    Muthoot Finance Q4 net profit up 22% at Rs 996 crore

    "We now hold majority in Paymatrix, having given full exit to many of the existing investors. We've acquired 54 per cent equity shareholding in the startup through a combination of primary and secondary investments," Muthoot Pappachan Group chairman Thomas John Muthoot told.

    PTI
    first published: Jun 21, 2021 10:54 pm

    Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

    Subscribe to Tech Newsletters

    • On Saturdays

      Find the best of Al News in one place, specially curated for you every weekend.

    • Daily-Weekdays

      Stay on top of the latest tech trends and biggest startup news.

    Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347