PayU completed the acquisition of a majority stake in PaySense for $185m.

Digital payments gateway provider PayU completed the acquisition of a majority stake in Mumbai-based consumer lending platform PaySense for $185m. This planned merger is aligned with PayU’s long term vision of orchestrating a fintech ecosystem in India by partnering with the right companies and offering multiple financial services. "Providing more Indian consumers with access to credit is crucial to helping individuals grow and succeed. PayU is a natural partner for us as we both strive to make finance more simple, accessible and transparent. We’re excited to start bringing our personal loan product to more consumers throughout India and truly democratize credit," Prashanth Ranganathan, PaySense Founder, and CEO.