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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
With its acquisition of digital loan startup PaySense, the payments firm is getting serious about selling loans
PayU is on a roll.
The digital payments company, owned by South African media and tech conglomerate Naspers, has spent in the vicinity of $500 million on fintech acquisitions and investments globally in just the past two years. To cap it all off, two weeks ago, PayU announced it was buying PaySense, a tiny Mumbai-based startup which runs an app offering quick personal loans in one of India’s biggest ever fintech deals.
PaySense—which recorded revenue of about Rs 18 crore ($2.5 million) in the year ended 31 March 2019—was valued at $185 million. PayU, which already held about 19% in …
A market dominated by speculative activity is enriching sophisticated traders at the expense of retail investors, distorting exchanges and brokerages, and putting household savings at risk.
The UAE is looking at its first public listing of the year while Egypt just delivered a big one; OpenAI’s bugging accused has ties to Saudi Arabia; and other updates from the week.
A local fintech deal to consolidate operations, feedback on Saudi Arabia’s proposed IPO rules, and Ras Al Khaimah’s casino economy.
