PayU Acquires 43.5% Stake in Mindgate Solutions to Strengthen Global Payments Infrastructure Mindgate's founders will retain majority control, ensuring continuity in strategy and operations.
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PayU, the payments and fintech arm of Prosus, has acquired a 43.5% stake in Mumbai-based Mindgate Solutions, a leading digital payments infrastructure provider.
The deal, announced on Thursday, marks a significant step in PayU's strategy to enhance real-time digital transactions globally.
Founded in 2008, Mindgate Solutions processes over 8 billion transactions monthly, catering to banks, governments, merchants, and corporations. The company claims to have a strong presence across MENA, ASEAN, Europe, and the US, offering PayU valuable expansion opportunities.
"This partnership is a milestone in our global expansion journey, combining our expertise in real-time payments with PayU's market reach," said George Sam, Co-founder and Business Head of Mindgate Solutions.
Mindgate's founders will retain majority control, ensuring continuity in strategy and operations.
Commenting on the investment, Anirban Mukherjee, CEO of PayU, stated, "Mindgate's expertise complements our mission to drive the next generation of digital payment innovations. Together, we aim to strengthen the infrastructure supporting seamless financial transactions."
Expressing enthusiasm, Guhan Muthuswamy, Co-founder and Software Architect of Mindgate, added, "PayU's global expertise aligns perfectly with our vision. This collaboration validates our transformative work and paves the way for an exciting future."
With this move, PayU further cements its position in the evolving fintech and digital payments landscape.
