Naspers-owned PayU to sell GPO business to Rapyd for $610m

Naspers’s payments and fintech business PayU has agreed to sell its Global Payments Organisation (GPO) business so that it can focus more on the large payments and fintech opportunity in India.

London-based fintech Rapyd will acquire PayU’s GPO for $610 million. PayU’s GPO business provides advanced e-commerce payment solutions for global merchants in over 30 countries across Latin America, central and eastern Europe, and Africa.

PayU is currently directing its investments to the Indian market, where it claims to be the leading payments provider, serving more than 450,000 merchants and more than two million credit customers, delivering 42% year on year growth in the last year alone.

“As we focus our investments on the Indian market, this is an exciting time for Prosus’s payments and fintech segment. India’s digital financial services opportunity continues to be large and under-penetrated, offering healthy growth for the PayU India business,” said Laurent le Moal, PayU’s CEO.

The deal follows the recent strong performance turned in by Prosus’s payments and fintech segment, which posted a consolidated revenue growth of 52% to $903 million in FY23.

This acquisition will also help Rapyd significantly scale and market its presence in central and eastern Europe and Latin America while gaining access to relevant underlying licences and payment processing infrastructure.

Rapyd is a digital payment processing and infrastructure company that delivers end-to-end products covering the entire payment spectrum from e-commerce payments acceptance to complex financial solutions, including payouts, FX, white label wallets, and card issuing.

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