PayU to widen fintech play, bets on cross-border payments, offline business

PayU to widen fintech play, bets on cross-border payments, offline businessNaspers-owned payments gateway PayU India is betting big on the fintech space in India. While its primary focus will be on payments, particularly cross-border payments, it is also entering the credit business and offline space. In an interaction with VCCircle, PayU co-founder and chief operating officer Shailaz Nag said that the Gurgaon-based company plans to […]

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Flipkart-owned PhonePe in talks with PayPal to raise funds

PhonePeFlipkart-owned PhonePe is in talks to raise a significant amount of funding independently at a valuation of about $500 million as strategic investors line up for a slice of India’s booming e-payments market, a national daily reported on Wednesday, citing people aware of the development. A report in The Times of India said that PhonePe […]

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PayU to launch new consumer credit business soon

ThinkstockPhotos-185431801Payment gateway provider PayU India is all set to launch its new consumer credit business this month. The new business, under the ‘Lazy Pay’ brand, will allow customers to complete the purchase without making the payment, PayU’s managing director Jitendra Gupta told Techcircle recently. Gupta, who has developed its credit underwriting business through Citrus Pay’s […]

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Digital lending platform ZestMoney raises $6.5 mn from PayU, others

For-Zestmoney-Story-TC_ThinkstockPhotos-170884639_feChalk Farm Ventures Pvt. Ltd, which runs consumer lending startup ZestMoney, has raised $6.5 million (Rs 44 crore) in a Series A round of funding led by Naspers-owned online payments firm PayU. Existing investors Ribbit Capital and Omidyar Network also participated in the round, a person directly aware of the deal told Techcircle on Wednesday. […]

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PayU India names Maneesh Goel as CFO

Naspers-backed PayU India has appointed former CEO of Den Snapdeal TV-Shop Maneesh Goel as chief financial officer, it said in a statement. Previously, Goel has also served a CFO of iDiscoveri Education Pvt Ltd and Getit Infoservices Pvt Ltd (Askme.com). “His expertise in strategic planning, working capital and funds management, M&A activities and establishing automated […]

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Internet firm Naspers sets up India office for investments, M&As

Ashutosh_SharmaSouth African media and internet conglomerate Naspers Ltd has hired Ashutosh Sharma from venture capital firm Norwest Venture Partners (NVP) to head its investment arm in India. Sharma has been appointed as India head –  investments and M&A at Naspers Ventures, according to his LinkedIn profile. “Ashutosh Sharma joined the Naspers Ventures team on October […]

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PayU’s finance head Gurpreet Singh quits

Naspers-backed PayU Payments Pvt. Ltd has seen another top level exit with the resignation of its finance head. Gurpreet Singh, vice president and head of finance at PayU India, has quit the digital payments firm to join HCL Technologies. While confirming the development to Techcircle.in, Singh said he will be a part of HCL Technologies’ […]

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Airtel payments bank hires PayU executive Abhishek Tripathi to lead SMB solutions

Abhishek-TripathiAbhishek Tripathi, associate director and business head at PayU Payments Pvt. Ltd, has decided to quit the company to join Bharti Airtel Ltd. He will be leading the small and medium business at Airtel Payments Bank. “I have joined Airtel Payments Bank to lead the SMB/SME solutions,” Tripathi confirmed the development to TechCircle. “I will […]

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Exclusive: The sort of Indian fintech startups Orange Growth Partners is looking to invest in

For-Fintech-Orange-Story-TC_ThinkstockPhotos-544970538Amsterdam-headquartered fintech investment firm Orange Growth Capital is setting foot in India. The three-year-old venture capital firm, which has a $150 million global fund, is focused on investments in Asia, Europe, Middle East and Africa. Operating out of Singapore in Asia, the firm has already entered Malaysia, Indonesia and Vietnam and will make investments in […]

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Naspers: Master of consolidation in Indian Internet business

For-Naspers-Story_ThinkstockPhotos-5861837382Consolidation is not an unfamiliar word for new-age Internet businesses. It signals a maturing of the industry after a burst of innovation backed by venture capital money. If the roughly decade-old history of Indian Internet industry is scanned, the real take-off with consumer adoption started only around 2010-11. Around the same time, a little known […]

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