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Lending platform PaySense raises $18Mn from PayU, existing investors

Mumbai based digital lending platform PaySense has announced that it has raised $18 million in a series B round of funding led by PayU, and two other existing investors- Jungle Ventures and Nexus Venture Partners, the Economic Times reports. PayU — which has invested in PaySense in a previously conducted Series A round — has now pumped in $11.5 million. It remains unclear how much money was invested by the other two players. PaySense is a digital lending platform that connects customers — who would need instant credit for a specific purpose — to its lending partner, India Infoline, a non banking finance company to process the loans. Founded by Ranganathan and Sayali Karanjkar in 2013, PaySense had first raised $2.3 million in 2015 from Nexus Venture Partners and few angel investors. Last year, the company had raised its Series A round of $5.3 million led by Jungle…

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