CreditMate is a Mumbai based fintech startup; they help dealers and financiers provide vehicle loans to those with no formal credit history; Paytm plans to partner with the firm as part of the investment. Source
An online lending startup with a unique concept has raised $500,000 in seed funding; CreditMate seeks to offer online loans for bikes and scooters in India; the company has partnered with 25 dealers in Mumbai and the process works similar to an auto loan; borrowers can identify the bike of their choice and work with the dealer for purchase and loan approval. Source