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Dutch investment firm Prosus, which has backed Indian consumer internet companies like Swiggy, Rapido and ixigo, flagged AI and agentic AI as a potential risk to its business in its latest annual report.
Over the last 12 months or so, several Indian companies have said that AI is a threat to their businesses. Info Edge, the parent company of Naukri and Jeevansathi, reported that AI dented billings of Shiksha, its education arm, during the quarter ended March 2026 (Q4 FY26). Over the last few quarters, Shiksha’s website traffic has also declined due to AI-powered search.
Last year, IndiaMART moved the Calcutta High Court against OpenAI, alleging ChatGPT selectively excluded the company from AI-generated responses while surfacing rival business-to-business (B2B) marketplaces.
PayU’s financial report card: PayU, the fintech arm of Prosus, reported its first-ever operational profit of $18 million in FY26. It had reported a loss of $25 million in FY25. The turnaround was driven primarily by its exit from businesses operating at negative margins.
Revenue increased 13% to $781 million in FY26, compared to $694 million a year earlier. In this, revenue from the payments business rose 10% year-on-year to $577 million, driven by higher-margin value-added services (VAS) and SaaS offerings, which contributed 35% of payments revenue. The payments business reported an operational profit of $12 million in FY26.
Revenue from the credit business increased 19% to $204 million, compared to $171 million in FY25. New loan issuances reached $221 million. The credit arm reported an operational profit of $6 million, compared with a loss of $28 million in FY25.
Prosus said PayU now accounts for around 25% of India’s online payments industry revenue and manages $682 million in assets through its lending business.
Last year, PayU received approval from the Reserve Bank of India (RBI) to operate as a payment aggregator across online, offline, and cross-border transactions.
The approval enabled PayU to onboard merchants on its platform and process payments on their behalf, from collecting funds from customers to routing transactions via cards, UPI, and net banking, to settling those payments with merchants.
PayU driving cross-platform synergies: Prosus said it is increasingly embedding its payment and credit offerings across its India portfolio companies, including Swiggy, Meesho, ixigo, Urban Company and Rapido, through PayU.
PayU processed $5 million of Swiggy’s gross merchandise value (GMV), handled $1.5 million in UPI GMV for ixigo, and originated $2.1 million in loans through the Meesho partnership in the fiscal year ended March 31, 2026 (FY26), Prosus said in its latest annual report.
During FY26, Prosus also invested in ride-hailing company Rapido and online travel booking platform ixigo, expanding its footprint in India.
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