Emerging Entrepreneurs

PayU acquires PaySense for $185 million

| Updated on January 20, 2020 Published on January 20, 2020

PayU, a fintech company that provides payment technology for online merchants, has acquired a controlling stake in PaySense, a digital credit platform, at a valuation of ₹1,320 crore ($185 million). PayU will merge its consumer lending business LazyPay with PaySense. In addition, PayU will inject up to ₹1,425 crore ($200 million) in the new enterprise in the form of equity.

Of this, it will invest about ₹460 crore ($65 million) immediately while the balance will be invested over the next 24 months to grow the loan book. PayU is the payments and fintech business of Prosus, a global consumer internet group and a leading technology investor, and is majority owned by Naspers.

Incorporated in Mumbai in 2015, PaySense has assets under management of over ₹500 crore. It has more than 55 lakh registered customers with loan disbursement of above ₹1,100 crore.

Published on January 20, 2020

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