PayU, which is a financial technology startup based out of Netherland, has secured INR 50 crore in its non-banking finance arm PayU Finance, according to the report which has been revealed.
PayU Finance, which runs under the brand name as LazyPay, allows customers to pay for a product 15 days after they make the purchase.
PayU is a financial technology-based digital payments startup, emerging from the Netherlands founded in the year 2002 by a group of people. It offers payment technology to online merchants. Also, it allows online businesses to accept payment through the payment methods that can be integrated with mobile and web apps.
PayU Payments received around 80 lakh shares of PayU Finance in return of investment. It has even sold each share of INR 10 face value at a premium of INR 52 a piece.
Some other players in this major market include the Faircent, MoneyTap, LendingKart and LenDenClub, and many more.
Picture Credits: PayU
