M&A

M&A

Digital payments co. PayU acquires 27% more in Mindgate to up stake to 70% at $300-M valuation

Digital payments major PayU has acquired an additional 27% in Mumbai-based payment processing company Mindgate Solutions , increasing its stake to 70%. The acquisition valued Mindgate at around USD 300 million.This is the second fund infusion from PayU into the company, after it acquired 43% in March 2025. The remaining 30% of Mindgate is held by its founders, George Sam and Guhan Muthusamy, who will continue to run the business.Mindgate, founded in 2008, provides payment technology and transaction processing services, acting as a digital payments partner for financial institutions and large corporations. It raised a USD 10 million external round from ACI Worldwide in 2019. It now joins Wibmo and Paysense, which operate as different business units within PayU.Mindgate closed FY24 with revenues of INR 260 crore and a net profit of INR 23 crore.