Visa picks up minority stake in digital payments gateway Billdesk

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 raised an undisclosed amount of funds from US-based payments processor Visa. The latest investment marks Visa’s first investment for a minority stake in India.

The latest investment will help Billdesk develop new product lines for its payment and loyalty businesses and expand its footprint into other geographies.

According to an ET report, the transaction is expected to be a mix of primary and secondary investment. The primary investment is speculated to be $200 million, while the secondary investment is estimated to be around $80-100 million, involving the purchase of shares from founders and investors, taking the total investment to around $300 million.

While the details have not been confirmed by either Visa or Billdesk, the Indian payments gateway is expected to have crossed $1 billion in valuation, entering the coveted unicorn club.

According to media reports, Visa’s latest investment is not expected to have any direct bearings on its existing Indian business.

The investment is also crucial, as it comes at a time when international players like Visa and MasterCard are losing ground to the Indian government-backed digital payments players like RuPay Card and Unified Payment Interface (UPI).

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 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.

In the Indian market, Billdesk competes with Naspers-owned PayU and Infibeam-owned CCAvenue, and Tiger Global-backed Razorpay, among others.

Recently, it was reported that Tiger Global grabbed ESOPs from Razorpay employees in a secondary deal.


Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

Filmmaking: From studios to locations to VFX Suites (Column: B Town)

BY VINOD MIRANIIt is not only the technology that has proved a great boon for filmmaking but there is...

PKL 7: Composed Pune beat Gujarat 43-33 at home

Pune, Sep 15 (IANS) Home team Puneri Paltan produced a composed performance to beat Gujarat Fortunegiants 43-33 in a Pro Kabaddi League Season 7...

Vikas stars as Haryana Steelers beat Tamil Thalaivas 43-35

Pune, Sep 15 (IANS) Vikas Kandola was yet again the star of the show for Haryana Steelers as they beat Tamil Thalaivas 43-35 in...

Johnson compares himself to ‘The Incredible Hulk’

London, Sep 15 (IANS) UK Prime Minister Boris Johnson has compared himself to The Incredible Hulk as he promises to ignore a new House...

‘Overwhelming’ support for London’s 1st Trans Pride

London, Sep 15 (IANS) The first-ever Trans Pride in London's Soho Square has received "overwhelming" support as hundreds of people turned out for the...
- Advertisement -

More Articles Like This