Today, BillDesk has captured the attention of millions of people around the world. Since its discovery, BillDesk has been the subject of debate, research and fascination. Experts and hobbyists alike have spent countless hours unraveling the mysteries surrounding BillDesk, exploring its origins, impact, and possible implications for the future. In this article, we will delve into the intriguing world of BillDesk, examining its importance and relevance in different areas of daily life. Join us on this journey to discover everything behind BillDesk and how it has influenced our society.
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.