Prosus looking to offload PayU

Prosus NV is exploring potential divestments from its emerging-markets financial technology company PayU, according to people familiar with the matter.

PayU operates in more than 50 countries across Asia, Latin America, Europe and Africa, according to its website. Prosus may consider selling the operations piecemeal to different buyers while retaining its valuable Indian business, the people said. Prosus is controlled by century-old South African media group Naspers Ltd., which formed the company to hold its technology investments and listed the vehicle in Amsterdam in 2019.

The unlisted payments and fintech assets of Prosus, including PayU, are worth around $4 billion, according to consensus estimates on itsAny deal would come at a challenging time for fintech companies as venture capital fundraising slows.

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