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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
Editor's note: 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 the company, raised its stake to around 80%, Entrackr reported; PayU didn’t specify exactly how much it paid, but it would be north of $100 million at least. The only bigger transactions have been e-commerce firm Snapdeal’s acquisition of digital wallet FreeCharge for over $400 million in 2015 (though it was mostly paid in stock) and PayU’s own acquisition in 2016 of rival payment gateway Citrus Pay for $130 million in cash. FreeCharge turned out to be a dud, with …
The Rs 250 SIP was launched last year by the former SEBI chairperson with one clear goal: financial inclusion. More than a year later, the much-hyped scheme doesn’t seem to have caught on with MF investors.
Europe’s largest fintech firm has its sights set on the Emirates. What can we expect?
The 15-year-old company has bought one brand after another in the hope of growing fast. That plan has fallen flat on its face, but there’s no stopping Wingreens.
