The Weekly Wrap: all you need to know by Friday COB | Sept 19th

By Puja Sharma

The Weekly Wrap is published every Friday and recaps the week’s main stories and deals, as well as upcoming events and announcements for Prime subscribers only.

The Big Story

PayU, the payments and FinTech arm of Prosus, has increased its stake in Mindgate, an innovator in real-time payments technology, moving from a minority position to a majority shareholder with a 70% holding. The founders of Mindgate will continue to retain a significant 30% minority stake, ensuring leadership continuity and operational independence.

This strengthened investment underscores PayU’s conviction in Mindgate’s long-term vision and technology capabilities, while reinforcing its own strategic ambition to drive the next generation of digital payment innovations. By combining PayU’s extensive FinTech ecosystem with Mindgate’s pioneering real-time payments platform, the partnership aims to enhance customer experiences, accelerate innovation, and expand the global adoption of ‘Made in India’ payments solutions.

While PayU has assumed a majority position, Mindgate will continue to be led by its founders, ensuring stability and continuity for clients, partners, and employees. The deepened partnership will focus on broadening product offerings, advancing technological capabilities, and building greater resilience across India’s rapidly evolving digital payments landscape.

Deals of the week

• Spare raises $5m to drive next-gen digital banking across MENA
• PayNearMe raises $50m to transform non-commerce payments
• nCino launches Integration Gateway to streamline banking connectivity
• Anthemis and CAIVP partner to transform AI innovation
• HALA secures $157m Series B to expand FinTech solutions
• Covecta raises $6.5m to speed up business lending with AI platform
• Oracle powers Access Bank’s digital transformation

Be on the lookout for

Nominate Now!!

The IBSi Global FinTech Innovation Awards 2025, set to take place on 21st November in Mumbai, will once again spotlight the most disruptive and transformative achievements in banking and financial technology. Now in its seventh year, the awards honour innovation across high-impact categories such as Core Banking, Digital Lending, AI/ML, and GenAI.

After a record-breaking 2024 edition—which drew 400+ submissions from 155 banks and 90 tech vendors—the upcoming awards are poised to set an even higher benchmark. Expect broader global participation, richer insights into bank–tech collaboration, and a data-driven judging process powered by IBS Intelligence’s proprietary research and analytics.

Beyond trophies, winners benefit from year-long visibility through editorial features, thought leadership opportunities, and industry event integrations—making this a platform not just for recognition, but for continued growth and influence.

Whether you’re a startup reimagining digital onboarding or an established bank modernising at scale, GFIA 2025 offers the stage to showcase your innovation, impact, and scalability to the global FinTech community