Prosus To Sell Part Of PayU To Israel’s Rapyd For $610 Mn To Focus On Indian Market

01 Aug'23 | By Gargi Sarkar

As part of the deal, Rapyd, a fintech-as-a-service provider, will acquire PayU’s Global Payments Organisation

The transaction will enable PayU to focus on the large payments and fintech opportunity in India, where it is the leading payments provider, Prosus said

Innovation and progressive regulation are driving rapid change within the digital payments industry in India, and we see many new opportunities to further expand our business: Prosus CEO

The Netherlands-based investment firm Prosus on Monday said its fintech arm PayU is selling a part of its business to Israel’s Rapyd for $610 Mn to focus on the lucrative Indian market. As part of the deal, Rapyd, a fintech-as-a-service provider, will acquire PayU’s Global Payments Organisation (GPO). “The transaction will enable PayU to focus on the large payments and fintech opportunity in India, where it is the leading payments provider, serving more than 4,50,000 merchants and mo