PayU Acquires Majority Stake in Singapore-based Red Dot Payment
Online payment firm PayU acquired a majority stake in Singapore based Red Dot Payment, a Southeast Asia focused online payment solutions provider.
Under the terms of the agreement, PayU has acquired a majority stake in RDP in a transaction valuing the company at $65 million.
With this transaction, PayU expands into the Southeast Asia region and brings the total amount deployed in fintech investments and M&A to north of $700 million over the last three years. The move demonstrates PayU's commitment to becoming the leading payments solution provider in high-growth markets and one of the largest fintech investors in the world.
Formed in 2011 by a group of payment experts from various Fortune 500 companies in the industry, RDP has grown into Singapore's largest home-grown and t...