PayU Invests $7 Mn Into Its Gurgaon based Consumer Lending Entity LazyPay

Nasper-owned Digital payments company, PayU has invested INR 50 Cr (about $7 Mn) in its lending business PayU Finance, which goes by the brand name LazyPay.

PayU payments will now acquire 8 Lakh shares in its lending arm for a premium of INR 52 per share. Earlier in January, PayU has separated its lending business as a separate entity, with an aim to become a full-service financial player around credit business in the country.

PayU India has recorded a revenue of $84.8 Mn (INR 588 Cr) for the period ending March 2018, from $44.35 Mn (INR 311 Cr) in the last year, which is a hike of 92%. During the period, LazyPay had gained significant traction reaching over 450K consumers and issuing more than $4 Mn (INR 28.3 Cr) in loans per month.