Swiggy backer Prosus looks to list Indian payments firm PayU in 2025
Dutch technology investor Prosus hopes to list Indian digital payments and lending firm PayU next year, its chief investment officer said on Wednesday, after clocking a $2 billion gain on its investment in another local firm Swiggy. While Prosus hoped to list PayU by the end of 2024, it's currently "not on ......
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 ......
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 ......
SMBC’s Asia Rising Fund joins Vayana’s ongoing Series D round
Trade credit infrastructure platform Vayana Tuesday said it raised $20.5 million (Rs 172 crore) as part of its ongoing Series D funding round, led by SMBC's Asia Rising Fund. Existing investors such as the International Finance Corporation (IFC), Chiratae Ventures, and Jungle Ventures, as well as family offices like Quantum State Investment Fund and Emerald ......
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 ......
Barring Byju's write-off, how Prosus' India portfolio fared in FY24
Global technology investor Prosus recently wrote off one of its largest bets ever in beleaguered education company Byju’s, marking a loss of nearly $493 million. But beyond Byju’s, Prosus, which is also an investor in companies like Swiggy, PharmEasy and Meesho, among others had other hits and misses in India, which it ......
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: 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 ......
Multiples PE-backed Vastu Housing adding another investor to cap table
Vastu Housing Finance Corp Ltd, the mortgage lender that counts a bunch of private equity and venture capital firms as its shareholders, is bringing on board another investor, VCCircle has learnt. The non-bank lender has roped in several new investors over the past year as Renuka Ramnath-led Multiples PE, its majority ......
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