PayU Acquires Stake in Mindgate Solutions | Real-time Payments

New Delhi, Mar 20 (PTI) Dutch investment firm Prosus' fintech arm PayU plans to acquire a 43.5 per cent stake in Mumbai-based real-time payments technology firm Mindgate Solutions for an undisclosed amount, a statement said on Thursday.

The majority ownership will remain with the Mindgate Solutions' founders, PayU said in the statement.

"PayU has acquired a strategic stake in Mindgate Solutions. This partnership reinforces PayU's commitment to expanding its presence in India's real-time payments sector while leveraging Mindgate's expertise to drive digital payment innovations globally. As a part of this deal, PayU will acquire a 43.5 per cent stake in Mindgate, while the majority ownership will remain with the company's founders," the statement said.

Mindgate claims to have processed over 8 billion transactions monthly and providing seamless payment solutions for leading banks in India.

"Through this investment, we are reinforcing our commitment to scaling ‘Made in India' payment technologies for the global stage. This investment is also consistent with our efforts to support the Indian Fintech ecosystem by investing in promising founders and helping them build world-class platforms," PayU CEO Anirban Mukherjee said.