BillDesk
BillDesk is an Indian online payments company based in Mumbai, India.
As of 2015, the company is worth USD 1 billion.[1]
Background
India's online payment market is estimated to be worth around USD 50 billion.[1] It is currently growing at the rate of 50% per year.[2] In 2015, cashless online payments have surpassed paper currency payments for the first time.[1]
It is estimated that 70% of India's online billing transactions are conducted through BillDesk.[2]
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 Reserved bank of India.[3]
History
BillDesk was founded by Indian enterpreneurs M.N. Srinivasu, Ajay Kaushal and Karthik Ganapathy in 2000.[4] The three previously worked at American accounting firm Arthur Andersen LLP.[5] All three founders are graduates of Indian Institutes of Management (IIM).[6]
In 2001, BillDesk received its first investment from SIDBI Venture Capital Ltd and Bank of Baroda.[2]
In 2006, Clearstone Venture Partners and State Bank of India jointly invested $7.5 million in the company.[2]
In 2012, US-based PE firm TA Associates made an undisclosed investment in BillDesk.[2]
In 2015, BillDesk received an investment of USD 200 million from General Atlantic thereby giving the company a total valuation of USD 1 billion dollars.[5]
References
- 1 2 3 "Online Payment Service Provider BillDesk Bags $200M from General Atlantic". iamwire. 2015-10-30. Retrieved 2016-10-12.
- 1 2 3 4 5 Balakrishnan, Reghu (2015-10-30). "General Atlantic, Temasek set to invest Rs1,000 crore in BillDesk". livemint.com. Retrieved 2016-10-12.
- ↑ "BillDesk". www.quadlabs.com. Retrieved 2016-10-12.
- ↑ "BillDesk To Boost Mobile Billing In India – Tech2". Tech2. 2006-09-04. Retrieved 2016-10-12.
- 1 2 "BillDesk to raise $200 million at $1 billion value | Gadgets Now". Gadget Now. Retrieved 2016-10-12.
- ↑ "Billdesk | Woolor". www.woolor.com. Retrieved 2016-10-12.
