Prosus Agrees to Sell Part of PayU to Rapyd for $610 Million

Prosus NV plans to sell part of its emerging-markets financial technology company PayU to Israel’s Rapyd for $610 million.

The deal will exclude the company’s biggest payments market in India, as well as its units in Turkey and Indonesia, Prosus said in a statement on Tuesday.

PayU’s so-called Global Payments Organisation, which forms part of the transaction, operates in more than 30 countries across Asia, Latin America, Europe and Africa, and contributes to about a third of PayU’s overall revenue.

“PayU’s GPO business has grown considerably in recent years, with payment volumes growing more than 400% in the past five ...