India, July 14 -- Prosus-owned fintech platform PayU India has raised INR 302 Cr (about $35 Mn) from its parent Prosus to shore up its credit business.

As per the company's MCA filings accessed by Inc42, PayU India issued 4.9 Cr equity shares to MIH Payments Holdings B.V., the investment arm of Prosus parent Naspers, last month.

Confirming the development, a PayU India spokesperson told Inc42, "This fundraise is to fuel the growth of our credit business, which is expected to breakeven by September. It also reflects Prosus' confidence in our growth trajectory and our path to profitability."

Notably, this comes months after Inc42 reported that Prosus injected INR 1,013 Cr in PayU via a rights issue.

Founded in 2002 by Nitin Gupta, Shail...