- 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.
Naspers-owned PayU doubles down on India with $70M deal to buy Wibmo
12 April 2019 5:15 AM GMT