Payments firm DotPe in talks to raise $5m from Naspers Fintech

Photo: Reuters

Payments platform DotPe is in talks to raise $5 million from Naspers Fintech, the fintech investments arm of South African conglomerate Naspers and a Chinese investor, said three people familiar with the development.

The payments platform is the new venture of Shailaz Nag, the co-founder of Citrus Pay, which was acquired by PayU in 2016 and rebranded PayU India. It is expected to be in the QR-based payments space, said the people cited above and this is likely to place it in competition with Paytm and PhonePe, among other such platforms.

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