PayU acquires Indian FinTech PaySense at $185mn valuation

January 10, 2020 | Consumer Lending

Written by FinTech Alliance

PayU acquires Indian FinTech PaySense at $185mn valuation

Naspers-backed PayU’s India business has acquired Paysense, an Indian FinTech.

In Brief:

  • PaySense is a consumer lending platform which has offered short term loans to over 5mn customers.

  • PayU India will merge PaySense business with its credit business LazyPay.

  • PayU will invest up to $200mn in equity capital over the past 24 months.

What does this mean?

It’s hoped the merger will help PayU solidify its credit business – with LazyPay being the main focus of this segment. PayU is aiming to become one of the largest players in India.

Read more here.

 

 

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