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Prosus is gearing up to list its fintech firm, PayU, in 2025 as part of its strategic shift towards India. Following the successful listing of Swiggy, which brought in gains of $2 billion, the Dutch investor is eyeing PayU for its next big move.
Focus on India
PayU, a wholly owned subsidiary of Prosus, had initially planned to go public this year with a valuation between $5 billion and $7 billion. However, delays have pushed the listing to 2025, as confirmed by Ervin Tu, Prosus’ president and chief investment officer.
Rising Valuation
Despite facing regulatory hurdles, PayU recently saw a boost in valuation to $4.2 billion, up from $3.7 billion. This increase was attributed to higher trading multiples in the global payment sector, positioning PayU as a key player in India’s digital payments market alongside competitors like Razorpay and PhonePe.
Expansion Plans
Prosus, under the umbrella of Naspers, has investments in various Indian startups and is considering more IPOs in the near future. With a focus on late-stage companies like Meesho and Urban Company, Prosus is looking to capitalize on the booming Indian market.
As Prosus continues to expand its presence in India, the upcoming PayU IPO in 2025 is set to be a significant milestone in the investor’s journey towards success in the region.
