Prosus units eyes Indian business ventures
It plans to invest more than R700 million in India.
Prosus's 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 is a Naspers spinoff.
Prosus Ventures ploughed $40 million (R599 million) into ElasticRun, a virtual logistic entity which delivers consumer products, and PayU injected $11 million (R164 million) 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 $4 billion 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 £4.9 billion (R93 billion).
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.