Private Equity Private Equity Fund Investments
Payment gateway firm BillDesk by PayU for $4.7 B
South Africa-headquartered Naspers' international investments arm Prosus is to acquire Mumbai-based digital payments provider BillDesk for US$4.7 Billion. The acquisition of the 2000-founded BillDesk, routed through Prosus' fintech firm PayU, will see the latter - which operates in more than 20 markets, - become a leading online payment provider globally by "total payment volume".
PayU India and BillDesk together expect to handle four billion transactions annually - four times PayU's current level in India.
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From the Venture Intelligence PE-VC Deal Database: Starting in 2001, BillDesk had raised more than INR 3,500 crore from SIDBI VC (fully exited), TA Associates, Clearstone, March Capital, Temasek and General Atlantic. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
From the Venture Intelligence M&A Deals Database: PayU had previously acquired other payment related companies in India including Citrus Payment Solutions, PaySense, Eashmart and Wibmo investing a total of about $400 million.