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 ......
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 ......
Why Prosus backed out from a deal that would have made PayU a market leader
By all accounts, Dutch payments major Prosus appears to have used a technicality to wriggle out of its agreement to buy payments major BillDesk through its Indian payments arm PayU, just hours before the deadline to complete the deal expired. When it was announced in August 2021, the $4.7 billion deal ......
Prosus-owned PayU eyes Indian gig-economy fintechs
Prosus-owned PayU, which made the most expensive acquisition in the Indian fintech landscape last year, is now aiming to snap up financial technology startups which are focussed on blue and grey-collared workforce, two persons familiar with the development told VCCircle. PayU, which bought Indian payment gateway service provider BillDesk for $4.7 billion last ......
Can MobiKwik re-attain peak valuation in IPO as one investor backs out?
Digital payments company MobiKwik, backed by investors such as Peak XV Partners and Abu Dhabi Investment Authority, would be looking to attain its peak valuation in its proposed initial public offering even as one of its investors has backed out of a funding deal. MobiKwik, operated by Gurugram-based One Mobikwik Systems ......
PayU, CMS Info Systems in race to pick majority stake in payment solutions firm
European technology company Prosus-owned PayU, and the country’s leading cash management firm CMS Info Systems, are in race to acquire majority stake in a payment solution firm Mosambee, two persons familiar with the development told VCCircle. Mosambee, operated by Synergistic Financial Networks Pvt. Ltd., is a payment solutions platform that claims ......
Merchant lending will be a serious play for us: PayU India head
Prosus-owned PayU, which has made the most expensive acquisition in the Indian fintech landscape, is looking to co-create new solutions with BillDesk, as it continues to explore possible integration with the latter. The deal, which will make PayU-Billdesk the leader in India’s B2B (business-to-business) payments space with a 50% share ......
Grapevine: Manipal Tech looking to dilute minority stake; two VC-backed startups shut shop
Ranjan Pai-led Manipal Group’s arm Manipal Technologies is set to raise funding by bringing in a new financial partner into the family-owned business, a media report has said, citing multiple people aware of the development. Manipal Tech, reportedly the largest manufacturer of banking and smart cards in India, is planning to ......
Deals Digest: M&A deals hog the limelight as funding activity slows
Private equity and venture capital dealmaking slowed this week compared with the week before but there was a notable increase in merger and acquisition activities. This week, companies inked 13 funding deals, down from 27 transactions in the previous five-day period. The week's largest deal involved Singapore state investment firm Temasek investing up to Rs 1,200 crore (around $145 million) in ......
BillDesk shareholders explore legal options against Prosus
Prosus NV terminated a $4.7 billion deal to buy BillDesk, citing a breach of conditions, just hours before the deadline, stunning the shareholders of the Indian payments firm and setting up a possible legal battle between the two parties. BillDesk shareholders have hired law firms to duel it out in the ......
