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Payu Doubles Down On Latam Fintech, Acquires Ding And Leads $46M Investment In ‘Superapp’ Treinta In Colombia

Apr 20, 2022•about 3 years ago

Amount Raised

$46 Million

Description

PayU, the fintech business controlled by Prosus with operations in 50+ countries — it’s been described as the PayPal of emerging markets — announced a double-deal today to expand its presence in Latin America. The company has acquired Ding, a platform that lets people top up mobile phone credits for others remotely; and it has led a $46 million investment in to Treinta, a financial “superapp” aimed at small businesses. Ding has 300,000 monthly active users transferring about $10 million per month; and Y Combinator alum Treinta, which launched only 18 months ago, has 4 million customers.

Company Information

Company

Pay U

About

The company has acquired Ding, a platform that lets people top up mobile phone credits for others remotely; and it has led a $46 million investment in to Treinta, a financial “superapp” aimed at small businesses. The company quotes figures from the U.S. Department of Commerce that estimate Colombia alone to have the fifth largest e-commerce market in Latin America, which as a region is projected to reach 260.2 million digital shoppers by the end of 2022, overtaking the U.S., with $167.81 billion in purchases. The startup has only been around for 18 months and it says that it already has some 4 million SMB customers in 18 countries. This paves the way for PayU to develop more remittance services around Ding, and potentially extend its existing remittance operations to Ding’s customer base.

Funding Insights

Based on industry data
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