Expanded Investment by PayU in Mindgate to Bolster Speedy Solutions Development for India and the Global Market in Real Time
In a significant move for India's burgeoning digital payments sector, PayU, the payments and fintech business of global consumer internet group Prosus, has increased its stake in Mindgate, a leading real-time payments technology company, to 70%.
Based in Mumbai, India, Mindgate boasts regional hubs in the Middle East, Southeast Asia, and the UK. The company, which processes over 10 billion digital transactions monthly and facilitates payments worth $1 trillion annually in India, has a portfolio of 60+ global marquee clients and employs a dedicated team of over 1,600 payment professionals.
PayU's additional investment in Mindgate reflects its strong belief in Mindgate's vision and capabilities. Under the leadership of CEO Anirban Mukherjee, PayU is committed to powering India's digital payments through its diversified fintech platform.
Mindgate, under the leadership of Co-founders George Sam and Guhan Muthuswamy, continues to be a key player in India's real-time payments sector. The founders will continue to hold a 30% stake in the company.
PayU's transition from a strategic minority investor to a majority shareholder in Mindgate marks a strategic milestone for both companies. The partnership aims to deepen, enhance product offerings, and drive innovation in India's real-time digital payments ecosystem.
PayU enables businesses to collect digital payments across 150+ online payment methods. With its increased stake in Mindgate, PayU is positioned as a leader in digital payments platforms, providing innovative, scalable, and secure payment solutions.
Mindgate specializes in developing advanced payment solutions for banks, government institutions, merchants, and corporates. The company has been recognised with prestigious accolades on global platforms, including the MEA Finance Awards, IBS Intelligence Awards, The Asian Banker Awards, and the Digital Payments Award 2024-2025 (TSP Category), conferred by the Ministry of Finance and Department of Financial Services, Government of India.
PayU's operations in India are regulated by the Reserve Bank of India. The company provides payment gateway solutions to over 5 lakhs+ businesses, including leading enterprises, e-commerce giants, and SMBs.
As India's digital payments sector continues to grow, particularly in real-time payment solutions like NPCI's UPI, the strategic partnership between PayU and Mindgate is poised to play a significant role in shaping the future of digital payments in the country. Mindgate continues to expand its reach across key markets including the Middle East, Europe, the UK, ASEAN, and the US.
