Payu

The fundraise plan comes ahead of the company's proposal to list on the stock exchange, with the minority stake sale being planned to gauge investor demand and set a valuation benchmark for the IPO

PayU India expects Ebitda breakeven in FY26, bets on merchant lending for credit turnaround: Group CFO

PayU India hope to stablise margins, with credit business expected to breakeven in Q2 on the back of merchant lending, Arvind Agarwal tells Moneycontrol, as he shares how payments and credit businesses are faring after a turbulent period

Prosus' PayU India continues in the red in FY25; payments revenue jumps 14% to Rs 4,135 crore

While the Payments unit hit breakeven in the second half of the financial year, the credit business disbursed Rs 9,130 crore in loans, growing 63 percent despite higher losses

PayU acquires 43.5% stake in payments technology firm Mindgate

The investment aims to enhance Mindgate’s existing partnerships with banks and improve merchant payment solutions.

Prosus' potential India IPOs: Meesho, BlueStone, PayU and Urban Company

Prosus is also looking at Captain Fresh, Mintifi, Vastu Housing Finance, Mensa Brands and Eruditus as future IPO candidates to capitalise on India’s startup ecosystem

PayU India reports $237-mn revenue from payments business, credit zooms 91% in H1

PayU’s performance comes after a challenging FY24, where a 15-month regulatory embargo by the Reserve Bank of India (RBI) restricted the company from onboarding new merchants. The ban, lifted in April 2024, had impacted its FY24 growth, leading to a trading loss of 3 percent, down from a profit the previous year.

Prosus looks to list Indian payments firm PayU in 2025

PayU has had plans to list since late 2023, at a $5 billion to $7 billion valuation. It recently emerged from a 15-month regulatory ban on enlisting new merchants and was authorised in April to operate as a payment aggregator.

Prosus-backed PayU sees 22% surge in revenue on the back of India payments business

The Netherland-based investor said despite regulatory hurdles in India, it managed to clock strong revenue growth on the back of improved operating leverage and effective cost control.

Cashfree ropes in former Razorpay exec Harsh Gupta as CRO; more changes on cards

The Apis Partners-backed fintech recently raised a bridge round of Rs 150 crore from existing investors, sources tell Moneycontrol.

After 15 months, PayU gets RBI’s in-principle nod to operate as a payment aggregator

In January last year, the RBI had returned the IPO-bound fintech firm's application to operate as a PA due to its complex corporate structure, and barred it from onboarding new merchants

PayU Payments appoints former PayU global CEO Laurent Le Moal, HDFC chief Renu Sud Karnad to board

With this, PayU Payments board's strength now stand at seven, alongside existing members--CEO Anirban Mukherjee and Chief Finance Officer (CFO) Arvind Agarwal.

PayU teams up with NPCI to roll out 'credit line on UPI' feature for merchants

Currently, PayU claims to offer its payments solutions to over 5 lakh offline and online merchants in India.

PayU Finance elevates Deepak Mendiratta as CEO, former DBS bank chief is new CFO

Former chief risk officer Mendiratta replaces Prashanth Ranganathan who quit six months ago. The rejig runs parallel to leadership changes taking place across the board at PayU

With licences in, payment aggregators gear up for rising demand from merchants

The RBI’s approval for companies such as Cashfree and Razorpay to onboard new merchants has come as a relief for the payments ecosystem.

PayU revenue up 21% on uptick in India credit business, LazyCard shutdown aids trading profitability

Prosus' payments and fintech segment recorded consolidated revenue of $497 million driven by India payments and credit in H1 of 2024. Prosus's payment arm PayU India recorded a revenue of $211 million.

PayU India's CEO Anirban Mukherjee elevated to global CEO role

The move is part of the fintech major's India-centric approach as PayU is looking to list in India sometime next year and looking at a valuation of $6-6.5 billion

Swiggy, PayU hold I-banker pitches and gear up for mega 2024 IPOs

In its last announced fund raise, Swiggy mopped up $700 mn in January 2022 at a valuation of $10.7 bn. PayU had sealed a deal with Billdesk to acquire the latter for $4.7 billion in August 2021. However, in a sudden twist, the company terminated the mega deal in October 2022.

PayU plans to list in India next year, looking at $6 billion valuation, say sources

PayU India reported $400 million in revenue for FY23, registering a growth of 31 percent. Going by its growth and profitability, the company could seek a valuation of somewhere between $4-$6 billion, sources said

PayU to focus on Indian market after selling Global Payments for $610 mn

In FY23, PayU's GPO business's total payment volumes grew 12 per cent year-on-year to USD 34 billion, which is around a 3x growth in 5 years. PayU will now focus on its growing Indian payments and credit business.

PayU India reports $400 million in revenue for FY23

India revenues grow 31 percent as enterprise and MSME business and personal loan business grow three times

Wealthtech startup Fisdom to foray into asset management space

The startup is looking to launch a PMS license initially for its High Net Worth Individual (HNI) customers, which will be accessible through its Fisdom Private Wealth platform.

Tiger Global-backed Open axes 47 jobs, founders take 50% pay cut

As a part of scale-up and profitability, Open said in the statement that it will continue the efforts to make a highly performance-oriented effective organization fit for scale, the statement said.

Google reviewing MeitY directive to block loan, betting apps: Sources

Along with online lending platforms like Kissht and PayU-backed LazyPay, Meity's ban list includes Kreditbee, Ola Avail Finance, and a few home loan and B2B lending apps.

Budget 2023: Fintechs cheer simplified KYC process, DigiLocker expansion

The steps taken to simply KYC will in turn simplify digital spending and investment processes, say fintech startups and investors.

RBI to PayU India: Reapply for payment aggregator licence, simplify corporate structure

This comes two months after the Reserve Bank of India rejected the application of Paytm Payments Services for licence to operate as a payment aggregator.