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PayU buys 43.5% stake in payment technology firm Mindgate Solutions for undisclosed sum
News
28 March 2025
1 min read
370
Mumbai, India – PayU, the payments and fintech arm of Dutch e-commerce giant Prosus, has acquired a 43.5% stake in Mindgate Solutions, a Mumbai-based digital payments infrastructure provider. While the financial terms remain undisclosed, Mindgate’s co-founders, George Sam and Guhan Muthuswamy, will retain majority ownership.
Founded in 2008, Mindgate processes over 8 billion UPI transactions monthly, powering $1 trillion in payments annually through banking partners like HSBC, Mashreq, and IndusInd Bank. The platform supports 10 million merchants across Europe, the UK, the US, ASEAN, and the Middle East.
With PayU’s backing, Mindgate aims to enhance operational efficiency, expand its global footprint, and improve merchant offerings. George Sam called the partnership a “significant milestone” in Mindgate’s expansion, leveraging PayU’s global reach and Mindgate’s real-time payments expertise.
Anirban Mukherjee, CEO of PayU, emphasized that this investment strengthens their commitment to scaling ‘Made in India’ payment technologies globally.
This partnership marks a new phase for India’s fintech ecosystem, reinforcing the growing impact of real-time payments worldwide.
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