PayU buys Indian consumer lending platform PaySense at $185 mn valuation

Naspers-owned digital payments company PayU is acquiring a controlling stake in Mumbai-based fintech startup PaySense at a valuation of $185 million. PayU said it plans to merge the five-year-old consumer lending platform with its own credit business LazyPay. PayU said that it will invest $200 million, $65 million of it immediately, into the new entity over the next two years.