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Prosus units invest more than R700m in Indian business ventures

Oct 30 2019 19:18
Sibongile Khumalo

Prosus' venture investing arm and its payments and fintech business PayU have announced two investments in India, increasing the company’s portfolio in what it referred to as a "high-potential market". 

Prosus Ventures ploughed $40m (R599m) into ElasticRun, a virtual logistic entity which delivers consumer products, and PayU injected $11m (R164m) into consumer wealthtech company Fisdom, it was announced on Wednesday.

According to the company, the move demonstrates its commitment to “investing towards and building [a] broader fintech ecosystem in India around core payments and lending businesses”.

Prosus, which is Naspers's newly listed international consumer digital company, has invested more than $4bn in its Indian operations and partner companies in the past five years.

The two deals follow recent investments in technology-driven businesses Meesho, BYJU’S and Swiggy in the Indian market.

The global digital company recently made a hostile bid for the UK-based food delivery company Just Eat, in a deal  which valued the company at  £4.9bn (R93bn).

Prosus, is listed on the Euronext Amsterdam exchange and the JSE, and houses the group's internet interests outside of South Africa, including stakes in Tencent, Swiggy, DeliveryHero and Udemy, among other entities. 

* Fin24 is part of 24.com, a division of Media24, which is a subsidiary of Naspers.

prosus  |  naspers  |  india  |  investment
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