PayU has raised its stake in Mindgate Solutions to 70%, valuing the Mumbai-based payment processing firm at around US$300 million.

This follows its initial 43% acquisition in March 2025.

The remaining 30% is held by founders George Sam and Guhan Muthusamy, who will continue to run the company.

PayU also plans to invest an additional US$5 million to US$10 million to drive synergies with its other business verticals.

Mindgate, founded in 2008, provides payment processing solutions and had earlier raised US$10 million from ACI Worldwide in 2019.

The firm closed FY24 with revenues of 260 crore rupee (US$29.6 million) and net profit of 23 crore rupee (US$2.6 million), according to Tracxn.

For FY25, PayU India reported a 12% rise in revenue to US$498 million, with total payment volume up 14% year-on-year.

🔗 Source: The Economic Times

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