PayU acquires PaySense: Recently PayU India acquired the consumer lending startup PaySense at a valuation of $185 million. The company decided to merge Paysense with LazyPay which is a Gurugram-based ‘buy now pay later’ entity.
The company committed $200 million for future growth and acquired all the assets of PaySense, said in a press release. But in this, $65 million is going to be equity investment and the rest will be used to support the loan book of combined companies.
Meanwhile Siddhartha Jajodia, global head of credit, PayU said:
“Technology has the power to completely transform people’s access to financial services. The credit market in India is ripe for further digital disruption. This merger is the next step in our journey, as we are accelerating our vision for credit in India,”
Besides this it also acquires one of the largest digital payments firms in Singapore by the name of Red Dot Payment. PayU acquires PaySense but Prashanth Ranganathan, the founder and CEO of PaySense. He will lead PayU’s credit business in India as the new CEO.
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