Naspers-owned PayU doubles down on India with $70M deal to buy Wibmo
PayU, the Naspers-owned payments company that competes with the likes of PayPal but focuses mainly on emerging markets, has made an acquisition to expand its business in India. It has acquired Wibmo, a startup based out of the US (Cupertino, to exact) that mostly operates in India. PayU is paying $70 million for the startup, [?]
- PayU, the Naspers-owned payments company that competes with the likes of PayPal but focuses mainly on emerging markets, has made an acquisition to expand its business in India.
- It has acquired Wibmo, a startup based out of the US (Cupertino, to exact) that mostly operates in India.
- PayU acquired Citrus for $130 million in 2016, and it has also made investments in Indian fintech startups that include PaySense and Zest Money.
- The business also has its core payment gateway service, which will be boosted by the addition of Wibmo.