Naspers-owned PayU doubles down on India with $70M deal to buy Wibmo

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 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.


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