PayU and Fosun International are approaching the culmination of $10 million equity financing round in DotPe, a fintech startup initiated by Shailaz Nag who was a former managing director at the Naspwer-owned fintech major.

In recent developments reported various sources, the financing round, the first one for the Gurgaon based Dotpe, could also lead to Info Edge which owns India’s largest job portal Naukri, be part of the startup’s investor cap desk.

Furthermore, a significant number of investors are likely to pump fund into the company. However, the names of the investors in talks with the company have not been ascertained yet.

The round is expected to wind up over the next few weeks, the sources indicated. The funding in Dotpe by PayU is an unprecedented event, where a major corporate is investing in a former employee’s enterprise.

Prior to becoming a member of PayU, Nag was a founding member at journey and hospitality Ibibo Group, which was later acquired by MakeMyTrip, India’s biggest on-line journey operator, in 2016.

India has emerged to be the fastest-growing marketplace for PayU globally and accounts for almost half of the volumes processed by it. In response to Naspers’ newest annual report, PayU processed $30 billion in quantity phrases, on greater than 920 million transactions.