Naspers-backed PayU’s India business has acquired Paysense, an Indian FinTech.
In Brief:
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PaySense is a consumer lending platform which has offered short term loans to over 5mn customers.
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PayU India will merge PaySense business with its credit business LazyPay.
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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.
