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Fintechs engaged in bidding war for PayU

Fintechs engaged in bidding war for PayU

European payments firm PayU is reportedly the subject of a bidding war after its owner, Dutch investment company Prosus, decided to put it up for sale.

 According to Israeli newspaper Calcalist, two fintechs have made bids so far – Canadian payments firm Nuvei and Israeli unicorn Rapyd.

Rapyd has made a number of acquisitions in recent years, the last was the purchase of Icelandic payments company Valitor in 2021.

News of a prospective sale comes in the same week that PayU posted its results for the latest financial year, revealing a 31% growth in its India business which brought in US$399m in revenue.

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