Prosus-backed fintech company PayU has acquired a 43.5% stake in Mindgate Solutions, a leading real-time payments technology firm based in India, strengthening its position in the country’s digital payments sector. The deal, announced on March 20, 2025, values Mindgate between $180 million and $250 million, with PayU expected to pay between $80 million and $110 million in multiple tranches. This investment is aimed at enhancing Mindgate’s banking partnerships and advancing merchant payment solutions.
PayU, a leading digital payments company backed by Prosus, has acquired a 43.5% strategic stake in Mindgate Solutions, an India-based real-time payments technology provider. This investment, valued between $180 million and $250 million, is expected to bolster PayU’s presence in India’s growing fintech sector while supporting Mindgate’s expansion.
Strengthening India’s Digital Payment Infrastructure
Mindgate Solutions, headquartered in India, is a key player in the Unified Payments Interface (UPI) ecosystem, providing real-time payment infrastructure for major banks. The company processes over 8 billion transactions monthly and competes with leading payment technology providers such as Juspay and Sarvatra. With a workforce of over 1,300 employees, Mindgate generated approximately ₹250 crore in revenue in the last fiscal year.
The deal will see PayU investing between $80 million and $110 million in multiple tranches while Mindgate’s founders retain majority ownership.
“This partnership marks a significant milestone in Mindgate’s global journey, combining our expertise in real-time digital payments with PayU’s market reach,” said George Sam, Co-founder and Business Head of Mindgate Solutions.
Global Expansion and Market Impact
Mindgate has a growing presence in MENA, ASEAN, Europe, and the US. The collaboration with PayU’s paytech arm, Wibmo, is expected to drive further advancements in real-time payments, benefiting banks, merchants, and consumers worldwide.
Anirban Mukherjee, CEO of PayU, highlighted that the investment aligns with the company’s long-term strategy of expanding Indian payment technologies globally. “Mindgate’s expertise in real-time payments aligns with our mission to drive digital payment innovations worldwide,” he said.
PayU’s Growth in India
PayU India has seen strong financial growth, with its revenue increasing 11% to $444 million in FY24, driven by higher transaction volumes and value-added services. The company processed over $71 billion in total payments volume, marking a 22% year-over-year growth, primarily fueled by e-commerce, financial services, and government transactions.
This acquisition solidifies PayU’s position in the highly competitive Indian fintech landscape while setting the stage for enhanced global adoption of Indian payment technologies.
