payu
Goldman Sachs-backed ZestMoney, once valued at $450M, sold to DMI in fire sale
ZestMoney, the Goldman Sachs-backed Indian fintech startup once valued at $450 million, has sold itself to financial services firm DMI Group, the two said late Wednesday, in a fire sale…
Goldman Sachs-backed ZestMoney, once valued at $450M, to shut down
ZestMoney, a buy now, pay later startup whose ability to underwrite small ticket loans to first-time internet customers attracted many high-profile investors, including Goldman Sachs, is shutting down following unsuccessful…
Rapyd acquires a piece of PayU from Prosus for $610M to scale its fintech-as-a-service platform
Rapyd, the fintech-as-a-service startup that provides APIs to enable payments, card issuing, digital wallet and other financial services to companies like Uber and Ikea, is taking a significant step forward…
India lifts ban on PayU’s LazyPay and some other lending apps
India’s IT Ministry has lifted the ban on seven high-profile lending apps, including PayU’s LazyPay, Kissht, KreditBee and Indiabulls’ Home Loans, according to a person familiar with the matter, providing…
India blocks PayU’s LazyPay, Kissht and Indiabulls Home Loans in fresh crackdown
Fintech Kissht and PayU’s LazyPay are among the apps that India’s IT Ministry has blocked in the ongoing crackdown as New Delhi moves to curb the misuse of consumers’ data…
Prosus has scrapped the $4.7 billion acquisition of BillDesk it announced last year, once stated to be the European technology giant’s largest, saying “certain conditions” were unfulfilled in a surprising…
India’s antitrust watchdog has approved PayU’s proposed acquisition of payments gateway BillDesk, the second largest M&A deal in the South Asian market’s consumer internet space, more than a year after…
Google-backed DotPe, which helps businesses in India go online and sell digitally, is in advanced stages of talks to raise about $50 million in a new financing round, a source…
PayU doubles down on LatAm fintech, acquires Ding and leads $46M investment in ‘superapp’ Treinta in Colombia
PayU, the fintech business controlled by Prosus with operations in 50+ countries — it’s been described as the PayPal of emerging markets — announced a double-deal today to expand its…
Prosus acquires Indian payments giant BillDesk for $4.7B, will merge with its PayU fintech group
More major consolidation underway in the world of payments: Prosus — the Dutch tech giant that bundles together Naspers’ fintech, e-commerce and other international investments and businesses outside of South…
Google backs one-year-old Indian startup DotPe in $27.5 million fundraise
Google’s latest investment in India is a startup that is helping businesses come online. One-year-old DotPe, a Gurgaon-based startup, said on Friday it has raised $27.5 million in its Series…
Months-old Uni raises $18.5 million seed round to expand India’s credit card market
The credit card industry in India appears to be stuck. According to industry estimates, between 30 million to 35 million people in the country today have at least one credit…
Remitly raises $85M at a $1.5B valuation, says money transfer business has surged
Remittances — when people send money internationally to family and friends, or as a payment — has long been one of the most important levers for getting funds to people…
PayU acquires controlling stake in Indian credit business PaySense, to merge it with LazyPay
PayU is acquiring a controlling stake in fintech startup PaySense at a valuation of $185 million and plans to merge it with its credit business LazyPay as the nation’s largest…
Goldman Sachs leads $15M investment in Indian fintech startup ZestMoney
One of America’s largest banks has just poured in some money to help millions of Indians without a credit score secure loans and make purchases online for the first time…
Remitly raises $220M to expand from money transfers to financial services, now at ~$1B valuation
When it comes to financial services in emerging markets, remittances — people sending money to each other across international borders, often not to established bank accounts — continues to be…
PayU, Naspers’ global fintech firm, enters Southeast Asia with acquisition of Red Dot Payment
PayU, the Naspers-owned fintech firm that specializes in emerging markets, is broadening its global reach into Southeast Asia after it announced a deal to buy a majority stake in Singapore-based…
India’s ZestMoney raises $20M to grow its digital lending service
Fintech is very much still hot in Asia. ZestMoney, a startup that helps consumers with no credit history get loans to buy online, announced today it has raised a $20…
Naspers-owned PayU doubles down on India with $70M deal to buy Wibmo
PayU, the Naspers-owned payments company that competes with the likes of PayPal but focuses mainly on emerging markets, has made an acquisition to expand its business in India. It has…
Featured Article
Pi Day wasn’t pleasant for a lot of tech execs
Pi Day is apparently New Job day for tech execs and VCs these days. Leaving: Lee Fixel It’s not every day that one of the top VC investors heads out from their shop. TechCrunch’s @cookie aka Connie Loizos has the story: Lee Fixel, the low-flying head of Tiger Global’s private equity business, is leaving at…
Africa Roundup: Local VC funds surge, Naspers ramps up and fintech diversifies
Africa’s VC landscape is becoming more African with an increasing number of investment funds headquartered on the continent and run by locals, according to Crunchbase data summarized in this TechCrunch feature.…
Naspers announces $300 million initiative to support startups and tech in South Africa
Naspers announced a $100 million Naspers Foundry fund to support South African tech startups. This is part of a $300 million (1.4 billion rand) commitment by the South African media and…
Xiaomi backs Indian consumer lending startup ZestMoney in $13.4M deal
Xiaomi has continued its investment in India after it led a $13.4 million round for fintech startup ZestMoney. The newly-public Chinese firm previously said it would invest up to $1 billion…
PayU acquires Zooz to take on international payment services
A week after PayPal led a $50 million round in the cross-border payment specialist PPRO, one of its big competitors in the developing world has announced an acquisition of its…
South African tech and media conglomerate Naspers made $2.2 billion from Flipkart sale
Naspers, the South African tech and media conglomerate, continues to have an incredibly hot hand when it comes to global tech investment. Famous for owning a huge chunk of the…
Kreditech raises €110M from Naspers’ PayU in strategic financing partnership
Kreditech, the German startup backed by Peter Thiel, Rakuten and the IFC that creates credit ratings and provides finance to people who may not otherwise have credit histories, has raised another round…
Naspers’ PayU buys Citrus Pay for $130M in cash to expand in India
Hundreds of millions of dollars of investment have been put into commerce startups in the fast-growing market of India, from marketplaces like Flipkart and Snapdeal through to payment startups like…
