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Naspers' PayU invests €110 mn in German fintech firm Kreditech

Deal will help PayU develop its credit portfolio in India and other high-growth markets

Ranju Sarkar  |  New Delhi 

Germany-based Kreditech, a leading technology group for digital consumer credit using machine learning-based underwriting, has had a €110-million investment from PayU, the global online payment service provider. This is the largest ever equity investment in a German financial technology (fintech) company and builds on a successful 12-month programme in Poland, stated PayU. PayU is the fintech arm of South African investor Naspers, which bought Citrus Pay in India. It plans to use this partnership to develop its credit portfolio in India. In April, it launched LazyPay, an ...

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First Published: Thu, May 11 2017. 12:08 IST
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