Muthoot Fincorp acquires majority stake in fintech startup Paymatrix
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Gold loan company Muthoot Fincorp has picked up 54% stake in Hyderabad-based rental collection startup Paymatrix by buying out existing investors as part of its added focus on the digital payments segment, according to reports. The startup has raised about $407.6K funding previously across six rounds of seed funding. Paymatrix diversified its portfolio by enabling payments beyond rental collections into any large ticket recurring expenses