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26 Jun 2018, Aleen Joy Jarasa, EMIS Editor

Visa to invest $250 million in Mumbai-based BillDesk

Visa plans to invest over $250 million into BillDesk, pushing the company’s value to around $1.5-2 billion, after the Indian company has decided to opt for a financing round, The Economic Times has reported. Reportedly, the deal is already in its final stages of completion.

The investment is expected to help Visa cement its position in the Indian payments industry amid the rise of new modes of payments and in turn would give BillDesk a strong foothold in the online merchant acquisition side of the business.

In 2016, BillDesk was valued at $800 million after General Atlantic got hold of a 20% stake in the company, The Economic Times has added.

Sign in and read the full article in emis.com Original source: The Economic Times