PayU, through this latest series of investment, has forayed into the wealth and investments technology as it seeks to move beyond digital payments into broader financial services.
Fisdom will use the infused financial to launch a new product suite and double its headcount in the next one year.
PayU is a fintech-based digital payments startup, emerging from Netherlands, founded in 2002 by group of people. It provides payment technology to online merchants. Also, it allows online businesses to accept and process payments through payment methods that can be integrated with web and mobile applications.
PayU Payments received around 80 lakh shares of PayU Finance in lieu of the investment. It has sold each share of INR 10 face value at a premium of INR 52 a piece.
Fisdom, on the other hand, enables consumers to pump funds across instruments like mutual funds, pension funds, term insurance, digital gold and others.
The Bengaluru-based startup Fisdom has a 150-member team and it plans to add general and health insurance products.