PayU increases stake in Mindgate to 70%

PayU, the payments and fintech arm of Prosus, has expanded its investment in Mindgate Solutions, increasing its stake to 70% and becoming the company’s majority shareholder. 

The founders, George Sam and Guhan Muthuswamy, will retain a significant 30% minority stake and continue to lead operations.

Mindgate currently powers over 10 billion transactions monthly for partner banks, representing payments worth more than $1 trillion annually. 

The company has emerged as a critical player in the growth of UPI, which recently crossed 20 billion monthly…