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PayU announced a majority investment in Red Dot Payment, a Singapore-based provider of services that include a payment gateway, e-commerce storefronts and online invoicing across Southeast Asia, which values Red Dot at $65m. PayU is a Naspers-owned fintech firm that specializes in emerging markets.
“We want to build the number one payments company for high-growth markets,” [PayU CEO Laurent] le Moal said. “If you look at what the top 10 economies will be in 2030, half are in Southeast Asia and the rest are growth markets we are already in.” “We are number one in India, in the biggest markets in Africa, the fastest-growing part of Europe and Latin America, but we have no presence in Southeast Asia,” he continued. “It’s fundamental… you want to go where the consumer growth is.”
https://techcrunch.com/2019/07/04/payu-enters-southeast-asia/
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