HDFC veteran, founders of law, advisory firms join PayU’s board
Naspers-owned financial services provider PayU Payments has appointed five new board members – three independent and two non-executive non-independent directors - across multiple different professional domains. The new members include Renu Sud Karnad, Gopika Pant, Jairaj Purandare, Laurent Le Moal and Jan Bune, a company statement said. The directors will join PayU's ......
Briskpe, two others secure early-stage funding
Fintech startup Briskpe and software-as-a-service (SaaS) startup Reelo secured early-stage funding, the companies said on Monday. Briskpe Briskpe has raised $5 million (Rs 42 crore) in a seed funding round from PayU, the payments and fintech business of Prosus. Founded by Sanjay Tripathy, CPTO Nilesh Pathak and Indunath Chaudhary, Briskpe is a Mumbai-based ......
Prosus-owned PayU India shuts down prepaid credit card unit LazyCard
PayU India has shut its prepaid payment instrument LazyCard that it launched at the beginning of 2022, the company’s parent Prosus said in its half-yearly report. The closure helped the company narrow its losses of payments and fintech segment to $22 million during the six-month period ended September 2023. The drop ......
Prosus-owned PayU targets Feb for India IPO filing
Netherlands-based PayU plans to ask for regulatory approval in February for an initial public offering worth at least $500 million in India, three people with direct knowledge said. PayU, owned by South African conglomerate Prosus, is a payment gateway that also offers other services including buy-now-pay-later, and competes with the likes ......
Prosus sells PayU’s global payments biz for $610 mn, to sharpen focus on India
Netherlands-based private equity player Prosus, which is a backer of multiple Indian startups including Byju's, DeHaat, Fashinza, The Good Glamm Group, Meesho, among others, has sold a part of PayU’s business for $610 million (nearly Rs 5,000 crore) in an all-cash transaction. The PE player has sold PayU’s Global Payment Organisation ......
Grapevine: Ex PayU exec’s startup eyes funding; Asha Ventures raising $100 mn fund
Former PayU Finance India chief executive Prashanth Ranganathan has held discussions with a host of investors to raise funding for his new venture, The Economic Times reported citing people aware of the matter. Ranganathan, who left Prosus-owned PayU earlier this year, is looking to raise $20 million to $25 million ......
Prosus-owned PayU’s FY23 revenue grows in double digits
Payment services provider PayU Payments Pvt. Ltd, has generated a revenue of $399 million (Rs 3,271 crore) for FY23, up 31% y-o-y, driven by growth in enterprise and SME businesses, as well as diversification into newer segments. The growth in its revenue, according to Prosus' statement, was also aided by omnichannel ......
Grapevine: PayU looks to list in India; Yes Bank in fray for NBFC acquisition
Prosus-backed PayU Payments Pvt. Ltd is planning to list in India sometime next year, a media report has said, citing a person close to the matter. The payments aggregator, which has been in the news recently for sale of its global payments business for $610 million to English company Rapyd, is ......
PayU onboards former IndusInd exec to lead risk ops
Prosus-owned PayU Payments Pvt Ltd on Tuesday appointed Manish Deo as the company’s head of risk operations and anti-money laundering. In his new role, Deo will oversee the risk management framework, mitigation strategies and risk operations across PayU’s payments business. “Manish has an excellent record of risk management in financial services and ......
PayU’s LazyPay, Kissht blocked after IT Ministry’s order
Digital lending platforms LazyPay and Kissht were impacted by the Ministry of Electronics and Information Technology’s (MeitY) latest move banning 94 mobile apps with links to China, with some customers losing access. Websites of PayU’s buy-now-pay-later platform LazyPay as well as loan provider Kissht were not working on major telecom networks, ......
