In the article we present below, we are going to delve into the fascinating world of BillDesk. We will explore its origins, its evolution over time and its relevance today. From its many facets to its impact on society, we will delve into each aspect to give you a complete and enriching vision. Whether BillDesk is a historical figure, a social phenomenon, or a current topic, this article will provide you with the information you need to understand his importance and influence on the world around us. So get ready to dive into this exciting topic and discover everything there is to know about BillDesk.
BillDesk is an Indian online payment gateway company based in Mumbai. The company provides an online payment platform for its clients which enables banking and merchant website transactions.
History
BillDesk was founded by Indian entrepreneurs M.N. Srinivasu, Ajay Kaushal and Karthik Ganapathy in 2000. The three previously worked at American accounting firm Arthur Andersen LLP.
In 2012, US-based PE firm TA Associates made an undisclosed investment in BillDesk.
In 2015, BillDesk received an investment of US$200 million from General Atlantic and Temasek Holdings thereby giving the company a total valuation of USD 1 billion dollars. General Atlantic remains the largest shareholder in the company, with 35% ownership in the company.
In August 2021, PayU announced that it would acquire BillDesk for $4.7 billion in an all-cash deal, which would make it the largest fintech acquisition in India. However, the deal was terminated in October 2022.
Business
As of 2015, the company is worth USD 1 billion. Sanjeev Krishan, leader (transaction services and private equity) at PwC India estimated that in the year 2015, 70% of India's online billing transactions were conducted through BillDesk.
BillDesk is a financially independent company and is monitored as a participant under the Payments and Settlements Systems Act, 2007 (Act 51 of 2007) that is regulated and supervised by the Reserve Bank of India.