PayU, the fintech arm of Prosus, has acquired a 43.5 per cent stake in Mindgate Solutions, a leading real-time payments technology provider. The strategic investment aims to bolster PayU’s foothold in India’s rapidly expanding digital payments market, particularly within the Unified Payments Interface (UPI) ecosystem. While the financial terms of the deal remain undisclosed, Mindgate’s valuation is reportedly between $200 million and $250 million.
Founded in 2008, Mumbai-based Mindgate Solutions powers over 8 billion transactions monthly, playing a crucial role in India’s digital payments infrastructure. With UPI transactions increasingly dominated by person-to-merchant (P2M) payments—now accounting for nearly 60 per cent of all UPI activity—this partnership is set to drive innovation in payment solutions, improving efficiency for banks and merchants alike.
Despite PayU’s substantial stake, Mindgate’s founders will retain majority ownership to maintain strategic continuity. The company has also established a strong global presence across the Middle East, North Africa (MENA), Southeast Asia, Europe and the United States, positioning itself as a key player in the international fintech space.
Anirban Mukherjee, CEO, PayU, emphasised the broader vision behind the deal, stating, “This investment accelerates our mission to globalise Indian payment technologies and strengthen the fintech landscape. Together, we will enhance infrastructure that enables seamless real-time transactions for banks, merchants and consumers worldwide.”
The move comes as PayU prepares for its anticipated IPO in late 2025. It also aligns with the company’s aggressive investment strategy, which includes previous acquisitions of fintech firms such as Vayana Network and ZestMoney.
Mindgate Solutions co-founders George Sam and Guhan Muthuswamy welcomed the partnership, calling it a pivotal step toward scaling digital payments globally.
In a joint statement, they said, “Our expertise in real-time payments, combined with PayU’s vast market reach, will allow us to deliver next-generation financial solutions worldwide.”
This collaboration marks a significant milestone in the evolution of digital payments, as both companies work towards revolutionising financial infrastructure and expanding real-time payment capabilities across the globe.
Send news announcements/press releases to:
info@thefoundermedia.com