Home / Companies / News / PayU buys PaySense for $185 mn in India's largest fintech acquisition deal

PayU buys PaySense for $185 mn in India's largest fintech acquisition deal

As part of the deal, PaySense founder Prashanth Ranganathan will lead PayU's credit business in India as the CEO of the new entity

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2 min read Last Updated : Jan 10 2020 | 11:02 PM IST

In India’s largest fintech acquisition deal, digital payments gateway provider PayU has acquired a controlling stake in Nexus Venture Partners-backed fintech start-up PaySense at a valuation of $185 million. As part of the transaction, PayU will merge it with its credit business LazyPay to build a full-stack digital lending platform in the country.

Naspers-backed PayU will also pump in $200 million in the new enterprise in the form of equity capital of which $65 million will be immediately invested, while the rest will be infused in the next two years.

"This merger is the next step in our journey as

Topics : PayU

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