o3 Capital acted as the Exclusive Financial Advisor to Mindgate Solutions for its significant minority investment by PayU

This deal marks o3 Capital’s 22nd deal closure in the last 18 months and adds to our growing capabilities in the digital and technology domain, marking our 4th transaction in the last 12 months.

Speaking about the transaction Srikanth Kannan, Director at o3 Capital remarked, “Mindgate has been at the forefront of the digital payments revolution in India and beyond, earning the trust of leading global financial institutions. In PayU, it has found a like-minded partner, committed to driving exponential growth through innovative, India-made payment solutions for the world. This marks o3 Capital's 5th strategic transaction in the fintech and financial technology software space, reinforcing our deep understanding of India’s fintech landscape and the trust entrepreneurs place in us. We look forward to continuing our close association with this dynamic industry.”

Mindgate Solutions has been a globally recognized leader in digital payments since 2008. Headquartered in Mumbai, India, with regional hubs in the Middle East, Southeast Asia, and the UK, the company specializes in advanced payment solutions for banks, government institutions, merchants, and corporates. Leveraging cutting-edge technologies like microservices architecture and real-time streaming, Mindgate ensures scalability, security, and reliability. With a team of 1,400+ payment professionals and a portfolio of 60+ marquee global clients, the company plays a pivotal role in driving seamless digital transactions worldwide.

Founded by George Sam and Guhan Muthuswamy, Mindgate has established itself as a dominant force in UPI infrastructure, processing over 8 billion digital transactions monthly through its partner banks and facilitating payments worth $1 trillion annually.

PayU is the payments and fintech business of Prosus, a global consumer internet group and one of the largest technology investors in the world. In India, PayU’s operations are regulated by the Reserve Bank of India and offer advanced solutions to meet the digital payment requirements of the Indian market. PayU India companies aim to create a full-stack digital financial services platform to serve all (tapped and untapped) financial needs of consumers, merchants, and banks through their cutting-edge technology solutions.

With this investment, Mindgate will leverage its strong existing partnerships with banks in real-time payments to enhance its expertise in merchant offerings while expanding its global reach.

This investment also aligns with PayU's vision of developing innovative payment solutions in India that serve customers worldwide.