PayU Boosts Investment in Mindgate to Lead Digital Payments Revolution
PayU increases its stake in Mindgate, becoming a majority shareholder with 70%. The acquisition aligns with PayU's strategy to advance digital payment innovations and support the 'Made in India' platform's global growth. Founders retain 30% and operational control, ensuring continued leadership and innovation in real-time payments.
- Country:
- India
PayU, a leading payments and fintech business under Prosus, has expanded its investment in Mindgate, now holding a majority 70% share. This move elevates PayU's stakeholder position from a minority to a controlling interest, fostering stronger alignment with Mindgate's strategic goals.
Both Mindgate's founders will retain a combined 30% stake, ensuring the continuity of leadership and operational oversight. This investment marks a pivotal moment for both companies, enhancing their capacity to deliver innovative product offerings and deepen collaboration in India's burgeoning real-time digital payments landscape.
Anirban Mukherjee, CEO of PayU, emphasized the importance of this strategic investment, highlighting its role in supporting India's Digital India vision and expanding real-time payment solutions globally. Meanwhile, Mindgate remains a critical player in facilitating over 10 billion monthly transactions and propelling digital payments growth worldwide.
(With inputs from agencies.)
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