London-based PayPal rival Moneybookers is up for sale, in a deal that could be worth more than €400 million (£367 million), reports Reuters. The site, which handles online payments, as well as money transfers, is being put up for auction by Bahrain-based investment bank Investcorp, which bought a 51 percent stake in the company in 2007, in a transaction that valued Moneybookers at $105 million (£76 million). The company, which claims its anti-fraud technology sets it apart from its rivals reported an 88 percent rise in 2008 to €34.5 million (£32 million), and has forecast a doubling of revenue for 2009. No official word on why Investcorp wants to sell the company. The bank, however, reported a net loss of $511 million (£370) for the half year ending December 31, and said in February that it planned to raise $250 million (£181 million) in capital.