PayU posts first full-year profit as Prosus deepens India bet across consumer commerce
PayU's FY26 revenue rose 13% to $781M with adjusted EBITDA turning positive at $18M, as payments and credit both reached profitability on $90B TPV. Prosus is leaning into India via ecosystem stakes in Swiggy, Meesho, Rapido and ixigo, pursuing AI-led cross-platform synergies.
What happened
Prosus doubles down on India as fintech PayU posts first full-year profit, with payments and credit both turning profitable. Group highlights ecosystem
Key facts
- revenue up 13% to $781M FY26
- adjusted EBITDA $18M positive
- TPV $90B
- payments revenue up 6% to $577M
- credit EBITDA $6M
Why this matters
Prosus is constructing an AI-linked India ecosystem where PayU's profitable payments rails could anchor cross-platform synergies across its portfolio holdings, signaling appetite for deeper integration plays.
What to watch
- Credit book NPA/loss ratios and lending license developments
- RBI payments aggregator and digital lending regulatory shifts
- TPV growth trajectory vs PhonePe/Razorpay/Google Pay share
- PayU IPO filing or valuation chatter
- Quarterly EBITDA durability beyond the $18M mark
- Prosus signals or files for PayU India IPO timeline once profitability holds two-plus quarters
- Deeper embedded-finance integrations across portfolio companies (BNPL, merchant lending)
- Capital reallocation toward India consumer-commerce stakes; trim non-core geographies
- AI-led cross-platform data and underwriting tooling rollout