Grapevine: PayU, Vedanta, Ecosoul in news
PayU is planning a minority stake sale ahead of its IPO, Vedanta has won the bid for Jaiprakash Associates, while Ecosoul has secured debt funding, according to separate media reports. PayU Prosus-owned PayU is planning to raise $300 million (Rs 2,642 crore) by diluting a minority stake, with HSBC advising on the ......
Grapevine: IL&FS Group, PayU, TA Associates in news
Bankrupt infrastructure developer and financier IL&FS is planning to divest its remaining stake in Roadstar InvIT and KKR's Asia fund is looking to reap $700 million from three exits, while PayU is increasing its stake in another digital payment-solutions provider Mindgate Solutions. Boston-headquartered private equity firm TA Associates has postponed OmniActive Health’s listing, and ......
Prosus-owned PayU India ups stake in Mindgate to gain control
PayU India, the digital payments company owned by Dutch technology investor Prosus, has increased its stake in Mindgate Solutions to gain control as it seeks to increase operational efficiency and enhance its product offerings. In March, PayU said it had acquired a 43.5% stake in the Mumbai-based payments infrastructure company for an undisclosed ......
PayU-backed fintech startup BRISKPE looks to raise fresh capital
GoBrisk Technologies Pvt. Ltd, a Mumbai-based financial technology company that operates cross-border payments platform BRISKPE, intends to raise fresh capital to expand its operations after securing seed capital last year, a co-founder told VCCircle. Sanjay Tripathy, who is also the company’s CEO, said BRISKPE is in discussions with venture capital firms ......
How Kalaari-backed Airpay plans to sustain growth after doubling FY25 revenue
Airpay Payment Services Pvt Ltd, a financial services provider backed by venture capital firm Kalaari Capital, plans to ramp up its distribution business, enter new markets and roll out more offerings to fuel revenue growth, its founder Kunal Jhunjhunwala said. Jhunjhunwala told VCCircle its Vyaapaar offering that distributes a wide array ......
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 ......
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 ......
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 ......
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 ......
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