BillDesk
In today's world, BillDesk has become a topic of great relevance and interest to a wide variety of people. From its impact on society to its influence on popular culture, BillDesk has captured the attention of individuals from all walks of life. With such a broad scope, it is essential to fully analyze and understand the meaning and implications of BillDesk today. In this article, we will explore different aspects of BillDesk, from its origin to its possible future developments, in order to shed light on this phenomenon and its impact on our daily lives.
 | |
| Company type | Private |
|---|---|
| Industry | Finance |
| Founded | 2000 |
| Founder |
|
| Headquarters | Mumbai, Maharashtra, India |
Area served | India |
| Services | Payment platform E-commerce payment system Bill payment |
| Revenue |  ₹2,124 crore (US$270 million) (FY 2021) |
| ₹245 crore (US$31 million) (FY 2021) | |
| Parent | IndiaIdeas.com Ltd |
| Subsidiaries | |
| Website | www |
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 2017, BillDesk launched the first Indian cryptocurrency exchange called Coinome.
Fundraising
In 2001, BillDesk received its first investment from SIDBI Venture Capital Ltd and Bank of Baroda.
In 2006, Clearstone Venture Partners and State Bank of India jointly invested $7.5 million in the company.
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.
See also
References
- ^ a b Manchanda, Gaurav Tyagi & Kunal (21 February 2022). "Billdesk's income crosses Rs 2,100 Cr in FY21, profit grows to Rs 246 Cr". Entrackr. Retrieved 13 October 2022.
- ^ Sharan, Gunja (26 April 2022). "PayU India Submits Revised Merger Notification To CCI For $4.7 Bn BillDesk Deal". Inc42 Media. Retrieved 13 October 2022.
- ^ "Indiaideas Com Ltd". Bloomberg. Retrieved 13 October 2022.
- ^ "BillDesk: The Payments Pioneer". Forbes India. Retrieved 10 February 2023.
- ^ "BillDesk acquires fintech payment product". VCCircle. Retrieved 10 February 2023.
- ^ "BillDesk Drops Expenses By 77% In FY18, Increases Net Profit By 15%". Inc42.
- ^ Laskar, Anirudh (5 July 2020). "BillDesk plans to sell-off business for $2.5 billion". mint. Retrieved 22 November 2021.
- ^ Singh, Ritu (2023-08-30). "BillDesk co-founder highlights fintech's rapid innovation & free digital payments boost amid pandemic". CNBCTV18. Retrieved 2024-03-10.
- ^ "NSE, BillDesk backer TA Associates amasses $16.5 bn for new PE fund". VCCircle. Retrieved 2024-03-10.
- ^ "BillDesk To Boost Mobile Billing In India – Tech2". Tech2. 2006-09-04. Archived from the original on 2016-12-20. Retrieved 2016-10-12.
- ^ a b "BillDesk to raise $200 million at $1 billion value | Gadgets Now". Gadget Now. Retrieved 2016-10-12.
- ^ "Cryptic World: Billdesk Launches India's First Crypto-currency Exchange". Moneycontrol.com. Retrieved 22 November 2021.
- ^ a b c d Balakrishnan, Reghu (2015-10-30). "General Atlantic, Temasek set to invest Rs1,000 crore in BillDesk". livemint.com. Retrieved 2016-10-12.
- ^ Manikandan, Ashwin; Shukla, Saloni (April 2021). "BillDesk strikes it rich amid payments crisis". The Economic Times. Retrieved 22 November 2021.
- ^ Shinde, Shivani (31 August 2021). "PayU acquires BillDesk for $4.7 bn in one of largest Indian fintech deals". Business Standard India. Retrieved 22 November 2021.
- ^ "Explained: Why a Dutch company is buying BillDesk for $4.7 billion". The Indian Express. 1 September 2021. Retrieved 22 November 2021.
- ^ Prosus terminates PayU's $4.7 billion acquisition of BillDesk
- ^ "Online Payment Service Provider BillDesk Bags $200M from General Atlantic". iamwire. 2015-10-30. Archived from the original on 2017-01-18. Retrieved 2016-10-12.
- ^ "BillDesk". Quadlabs.com. Retrieved 2016-10-12.
