payu News of 10/24/20
Months-Old Uni Raises $18.5 Million Seed Round To Expand India’S Credit Card Market
Even as close to a billion debit cards are in use in India today, only about 58 million credit cards are in circulation in the world’s second most populous nation. According to industry estimates, between 30 million to 35 million people in the ...
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 payments processor aggressively expands its financial services ...
Goldman Sachs Leads $15m Investment In Indian Fintech Startup ZestMoney
One of America’s largest banks has just poured some money to help millions of Indians without a credit score secure loans and make purchases online for the first time in their lives. Bangalore-based ZestMoney announced today it has raised ...
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 one of the biggest, with the World Bank ...
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 Red Dot Payment . Naspers is best known for its ...
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 million Series B. The round is led by Quona Capital, a stealthy ...
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 acquired Wibmo, a startup based out of the US (Cupertino, to ...
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, ...
Africa Roundup: Local VC Funds Surge, Naspers Ramps Up And Fintech Diversifies
Jake Bright Contributor Jake Bright is a writer and author in New York City. He is co-author of The Next Africa . More posts by this contributor Tarform debuted new e-motorcycles but is there a U.S. market? ...
Naspers Announces $300 Million Initiative To Support Startups And Tech In South Africa
Jake Bright Contributor Jake Bright is a writer and author in New York City. He is co-author of The Next Africa . More posts by this contributor Marieme Diop and Shikoh Gitau to speak at Startup Battlefield ...