PayU, the payments and fintech business of Prosus, has increased its stake in Mindgate, a real-time payments technology, transitioning from a strategic minority investor to a majority shareholder with a total holding of 70%. Earlier in March, PayU had acquired a 43.5% stake in Mindgate.
Founded in 2008 by George Sam and Guhan Muthuswamy, Mindgate Solutions is a trusted partner in digital payments. Headquartered in Mumbai, India, with regional hubs in the Middle East, Southeast Asia, and the UK, the company specializes in developing advanced payment solutions for banks, government institutions, merchants, and corporates, leveraging cutting-edge technologies such as microservices architecture and real-time streaming to ensure scalability, security, and reliability. Mindgate has a dedicated team of over 1,600 payment professionals and a portfolio of 60+ global marquee clients.
PayU, with its increased stake in Mindgate, has cemented itself as a leader in digital payment platforms that provide innovative, scalable, and secure payment solutions, ensuring a seamless transaction experience for users across global markets.
The founders will retain a significant 30% minority stake and continue to lead operations.
Anirban Mukherjee, CEO, PayU, said, “At PayU, we are driven to deliver exceptional value to our merchant and bank partners. Our additional investment in Mindgate underscores our confidence in its strong performance and the vast growth potential in India’s real-time payments ecosystem. It further strengthens PayU’s role in accelerating the Government of India’s Digital India vision and reinforces our commitment to powering India’s digital payments through PayU’s diversified fintech platform.”
George Sam, Co-founder & Business Head, Mindgate Solutions, said, “Mindgate continues to play a crucial role in the growth journey of India’s real-time payments by powering 10 billion+ monthly transactions and providing seamless payment solutions to leading banks. Together with PayU’s diversified fintech platform, its extensive network, and increased investment, Mindgate will be well-placed to contribute to the vision of global adoption of real-time payments.”
Guhan Muthuswamy, Co-founder & Software Architect, Mindgate Solutions, said, “We are incredibly excited by PayU’s deepened commitment to our shared vision of transforming payments infrastructure through innovation. Our success in India is built on the strength of our issuing platform, which has been central to the growth of real-time payments for leading banks and institutions. With PayU’s strong merchant stack complementing our capabilities, we now have the combined advantage of addressing the acquiring side of the payments ecosystem.”
PayU is the payments and fintech business of Prosus, a global consumer internet group and one of the largest technology investors in the world. In India, PayU operations are regulated by the Reserve Bank of India and offer advanced solutions to meet the digital payment requirements of the Indian market. PayU India companies aim to create a full-stack digital financial services platform to serve all (tapped and untapped) financial needs of consumers, merchants and banks through its cutting-edge technology solutions.
PayU provides payment gateway solutions to online businesses through its cutting-edge and award-winning technology and platform. PayU has empowered 5 lakhs+ businesses, including India’s leading enterprises, e-commerce giants and SMBs. It enables businesses to collect digital payments across 150+ online payment methods such as Credit Cards, Debit Cards, Net Banking, EMIs, pay-later, QR, UPI, Wallets, and more.
