PayU to sell its global payments business for $610 million in an all cash deal to Rapyd

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Netherlands-based investment firm Prosus announced that its fintech arm, PayU, will sell a portion of its business to Israel’s Rapyd in an all-cash deal worth $610 million. The move is aimed at shifting PayU’s focus to the Indian market.

Rapyd Acquires PayU Global Payments Organisation (GPO)

As part of the deal, Rapyd, a fintech-as-a-service provider, will acquire PayU’s Global Payments Organisation. The GPO currently operates in more than 30 countries across Asia, Latin America, Europe, and Africa, contributing to about one-third of PayU’s overall revenue.

Growth and Contributions of PayU’s Global Payments Organisation

The Global Payments Organisation is a significant contributor to PayU’s financial performance, accounting for around 30% of its overall revenues. In the fiscal year 2023, total payment volumes for GPO witnessed a remarkable 12% year-on-year growth, reaching $34 billion.

PayU Focus on the Indian Payments and Fintech Opportunity

The divestment will enable PayU to concentrate on the vast payments and fintech opportunity in India, where it currently holds a leading position as a payments provider. With a strong presence, PayU serves over 450,000 merchants and more than 2 million credit customers in the Indian market.

Consolidated Revenue Growth and Prosus’ Future Plans

Prosus reported a 52% consolidated revenue growth of $903 million in FY23 for its payments and fintech segment. The firm’s CEO, Bob van Dijk, emphasized their commitment to focus on the thriving fintech landscape in India. PayU, a part of Prosus, continues to expand its credit offerings and solidify its position as a leading payments service provider in India.

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PayU to sell its global payments business for $610 million in an all cash deal to Rapyd

Netherlands-based investment firm Prosus announced that its fintech arm, PayU, will sell a portion of its business to Israel’s Rapyd in an all-cash deal worth $610 million. The move is aimed at shifting PayU’s focus to the Indian market.

Rapyd Acquires PayU Global Payments Organisation (GPO)

As part of the deal, Rapyd, a fintech-as-a-service provider, will acquire PayU’s Global Payments Organisation. The GPO currently operates in more than 30 countries across Asia, Latin America, Europe, and Africa, contributing to about one-third of PayU’s overall revenue.

Growth and Contributions of PayU’s Global Payments Organisation

The Global Payments Organisation is a significant contributor to PayU’s financial performance, accounting for around 30% of its overall revenues. In the fiscal year 2023, total payment volumes for GPO witnessed a remarkable 12% year-on-year growth, reaching $34 billion.

PayU Focus on the Indian Payments and Fintech Opportunity

The divestment will enable PayU to concentrate on the vast payments and fintech opportunity in India, where it currently holds a leading position as a payments provider. With a strong presence, PayU serves over 450,000 merchants and more than 2 million credit customers in the Indian market.

Consolidated Revenue Growth and Prosus’ Future Plans

Prosus reported a 52% consolidated revenue growth of $903 million in FY23 for its payments and fintech segment. The firm’s CEO, Bob van Dijk, emphasized their commitment to focus on the thriving fintech landscape in India. PayU, a part of Prosus, continues to expand its credit offerings and solidify its position as a leading payments service provider in India.

Also Read The Latest News:
Mooofarm responds to allegations by former finance head, denies wrongdoing and prepares to counter claims

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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