PayU lays off staff at digital credit business PaySense

Fintech company PayU has announced layoffs in PaySense, the digital credit business it acquired in January this year. A PayU spokesperson confirmed the news but did not disclose the number of employees to be axed. According to sources, somewhere between 40-50 employees across departments such as sales and operations have been laid off. In January, PayU acquired a controlling stake in PaySense at a valuation of $185 Mn.