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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…
