130 million dollars! Naspers, a major shareholder of Tencent’s acquisition of India’s payu payment happynewyear

130 million dollars! Naspers, a major shareholder of Tencent’s acquisition of India PayU Naspers, the company’s PayU recently announced that the company completed the acquisition of to pay for the acquisition of Citrus Pay. The deal ended up at $130 million, making it one of the largest acquisitions in the financial sector in India. PayU is a payment service provider, the company is headquartered in Holland. In India, PayU’s website offers consumers a variety of payment options, including debit cards, credit cards or online banking. Last month, the company also received a semi open wallet payment license from Reserve India Bank. This means that the user can connect the wallet to their bank account and pay for it on the PayU website. Prior to the acquisition, Citrus Pay can be regarded as a competitor to PayU – its presence threatens the financial giant’s business plan in India. Under the new agreement, Citrus Pay incumbent CEO Amrish Rau will become the person in charge of PayU in India. The company’s founder, Jitendra Gupta, will help manage Citrus Pay’s credit team LazyPay, and another co-founder Shailaz Nag will work with banks to expand the company’s business. Third co founders Nitin Gupta will leave the company. Through three rounds of financing, Citrus Pay has raised $32 million 500 thousand. Three rounds of financing, Sequoia Capital are involved. Other investors include Ascent Capital and Beenos Asia. It is worth mentioning that the electricity supplier website Snapdeal to $400 million acquisition of electronic wallet Freecharge in April 2015, the transaction is by far the largest financial technology industry mergers and acquisitions in India.相关的主题文章: