Sunday, June 23

Tag: Payment Gateway Firm

Visa Acquires Minority Stake in an Indian Payment Gateway Firm
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Visa Acquires Minority Stake in an Indian Payment Gateway Firm

The popular US-based payments processor Visa is acquiring a minority stake in Mumbai-based BillDesk. This acquisition will make BillDesk the newcomer in India’s Unicorn club of private technology companies valued at over $1 billion. The financial details of the deal were not disclosed, however, it is expected to value the 18-year-old company at $1.8 billion. The transaction involves a primary investment of about $200 million with a secondary purchase of shares from existing investors and founders of $80-100 million matter. This could take the total investment to about $300 million. Visa’s investment in help BillDesk develop new product lines for its payment and loyalty businesses and expand its footprint into other geographies, according to a statement from Visa. The investment wi...