Prosus-backed payments and lending platform PayU is exploring a $300 million fundraise by selling a minority stake, according to a report by Moneycontrol. The company has appointed HSBC as its banking partner for the deal, which is currently in early stages.
The move comes as PayU prepares for a potential IPO on Indian stock exchanges in 2026. The stake sale is expected to act as a valuation benchmark and help gauge investor appetite before the public listing.
Earlier this year, PayU acquired a 43.5% stake in Mindgate Solutions, a leading real-time payments technology firm that powers UPI infrastructure for India’s largest banks. Prosus, PayU’s majority shareholder, has continued to back the company, recently infusing $35 million into its credit business and supporting the Mindgate deal.
PayU India enables digital payments for 500,000+ merchants, offering acceptance across cards, UPI, wallets, EMIs, and QR codes. Its no-code solutions such as payment links, invoicing, and split payments complement advanced features like fraud protection, analytics, tokenisation, and AI-driven recommendations.
On the credit side, the firm operates an RBI-licensed NBFC, offering instant loans, EMIs, and BNPL solutions to individuals and businesses underserved by traditional banks.
For FY25, PayU’s India payments business grew 12% to $498M, while its overall revenue climbed 21% to $669M.
By: Arushi Agarwal
