Billdesk posts revenue of ₹929 crore, rising 40%, as profit grows by 15% in FY18

Must Read

President Ram Nath Kovind appoints new governor for Kerala, Telangana, Himachal Pradesh and Maharashtra

President Ram Nath Kovind appointed new governors for Maharashtra, Kerala, Telangana, Rajasthan, and Himachal Pradesh on Sunday. Former Union Minister Kalraj...

NRC list for Assam released; Fear looms as 19 lakh people face exclusion

NRC (National Register of Citizens) for Assam has been published at 10 am today. The final list excludes over...

Lateral Entry Era Begins as Union govt. appoints 9 professionals to Joint Secretary posts

The government has appointed its first batch of private professionals to the post of Joint Secretary in various ministries....

Mumbai-based digital payments gateway Billdesk has posted ₹929 crore in revenue from operations, registering a 40% growth in FY18. The firm also witnessed a 15% growth in revenues, standing at ₹148 crore, according to the filings with the Ministry of Corporate Affairs, sourced from Tofler, by Economic Times.

The digital payments firm has been on a continuous growth trajectory, witnessing revenue growth of 30% in FY17 and 40% in FY16. Billdesk continues to grow, despite being hit by falling merchant discount rates, the fee charged from a merchant per transaction.

As the revenue continues to soar, the firm also saw its employee benefit expenses rise slightly to ₹43 crore in FY18, from ₹37 crore in the previous fiscal.

Billdesk was founded by M N Srinivasu, Ajay Kaushal and Karthik Ganapathy in 2000. The gateway was created with the aim to simply payments process by leveraging technology. It processes over $60 billion of digital payments a year and provides customers payment options, including credit cards and online wallets, to carry out purchases.

Earlier this month, it was reported that Billdesk raised an undisclosed amount of funds from US-based payments processor Visa. The reports suggest that Billdesk has crossed the valuation of $1 billion, joining the elite coveted club.

In January 2016, Billdesk raised an undisclosed amount of funds from March Capital Partners. It also counts TA Associates, State Bank Of India, and Clearstone Venture Partners, among its investors.


Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

Injured Nadal pulls out of final two Laver Cup matches

Geneva, Sep 22 (IANS) US Open champion and tennis star Rafael Nadal withdrew from his matches at the Laver...

Congress, Rahul ‘playing politics’ on J&K, says Shah (Lead)

Mumbai, Sep 22 (IANS) Union Home Minister Amit Shah on Sunday attacked the Congress and its former President Rahul Gandhi in the issue of...

Chinmayanand case: In which both parties are culprits and victims

By Sanjeev Kumar Singh ChauhanShahjahanpur, Sep 22 (IANS) Call it the power of the ubiquitousness of technology. The rape and blackmail of the Shahjahanpur...

Carolina Marin caps comeback from injury with China Open win

Changzhou (China), Sep 22 (IANS) Olympic champion Carolina Marin on Sunday beat Taiwanese former world no.1 Tai Tzu Ying to win a second consecutive...

Modi to address Indian diaspora at ‘Howdy Modi!’

Houston, Sep 22 (IANS) Prime Minister Narendra Modi on Sunday would attend the mega 'Howdy Modi!' event being organised at the NRG stadium here...
- Advertisement -

More Articles Like This