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