PayU acquires Ding and invests in Colombia-based 'superapp' Treinta

Thursday 21 April 2022 14:14 CET | News

Netherlands-based fintech PayU has announced a double deal to expand its presence in LATAN, Acquiring mobile payments platform Ding and invests in Treinta.

Notably, both are based in Colombia but provide services across the Latin America region. For PayU and Prosus (its parent company), the deals are significant for two main reasons.

First, they are helping Prosus tap into what continues to be a fast-growing market. The company quotes figures from the US Department of Commerce that estimate Colombia alone to have the fifth largest ecommerce market in Latin America, which as a region is projected to reach 260.2 million digital shoppers by the end of 2022, overtaking the US, with USD 167.81 billion in purchases.

Second, the move speaks to how PayU and Prosus are looking to add more diversification to its investment base. It’s a development considering its proximity to Prosus reevaluating investments in other regions, specifically the state of Russia, including a USD 770 million write-down in March 2022 of its investment in social network VK.

PayU describes Ding as a payments app, providing businesses that use it with facilities to accept payments by debit card, credit, QR Codes, and other methods. It also provides the ability to sell phone recharges, pins, digital content, and more.

The Treinta investment, meanwhile, is a USD 46 million round along with participation also from other investors. Treinta had previously participated in a Y Combinator batch, and backers of the company in its USD 14.3 million in seed round in 2021 included YC and Levels Up Ventures. Treinta, which means ‘thirty’ in Spanish, is not disclosing its valuation, and PayU also declined to comment on the figure.

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Keywords: acquisition, mobile payments, investment, ecommerce, expansion
Categories: Banking & Fintech
Companies: Ding, PayU, Treinta
Countries: World
This article is part of category

Banking & Fintech






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