PayU acquires fintech in Colombia

PayU, the premier fintech and online payments provider in high-growth emerging markets, announced today that it has strengthened its footprint in Latin America by acquiring Ding, a Colombian fintech that specializes in online payments.

It has also joined a $46 million global fundraising round for Treinta, a Colombian super-app that helps Latin American SMEs digitize business processes through online services such as accounting, inventory management, and trade solutions.

Colombia has made headlines in recent years for its financial system change, which has allowed new companies to enter and profit from the market.

PayU’s acquisition of Ding exemplifies this. It would aid in the acceleration of innovation and competition in Colombia’s digital payments industry by enhancing the country’s digital economy and allowing SMEs that were previously unable to access traditional financial services access to the market.