Prosus buys BillDesk in India for $4.7 billion

Karthik Subramanian

Prosus, the technology investor based out of Amsterdam, has announced that it has acquired the Indian payments platform Billdesk for a sum of $4.7 billion to further augments its payments business in India.

Turkey payments system TROY is live

The company already owns the Indian payments platform PayU and this acquisition is expected to complement the PayU business and help to build a payments company that is likely to dominate this space, both in retail and B2B segments as well. The 2 companies together are expected to augment each other’s services and increase the number of transactions to over 4 billion per year which is four times that of the number of transactions that PayU handles currently.

“BillDesk is really the very definition of an Indian success story . . . the combination [with PayU] will be a leading digital payments company locally and globally,” said Bob van Dijk, chief executive of Naspers and Prosus.

BilDesk had made an after-tax profit of $37.05 million in the financial year ending March 31, 2021, and this deal is expected to be one of the biggest in the payments space in India and is subject to regulatory approvals. BillDesk is one of the largest payment processors in India and it recently launched a bid, along with a combination of banks, to design a new retail payments infrastructure in the company. With the payments industry already growing at a very fast pace in India and expected to grow even further in India and globally, this acquisition is likely to help Prosus to reap the benefits as the combination of these 2 companies would help it to boost its presence further in the country.

“This investment by Prosus validates the significant opportunity in India for digital payments that are being propelled by innovation and the progressive regulatory framework put into place by the Reserve Bank of India,” said M N Srinivasu, BillDesk’s co-founder.

Prosus has invested heavily in the Indian industry and it is well known for its stake in the Chinese giant Tencent. Over the last few years, it has managed to whittle down its stake in Tencent which has helped the company to build a huge fund with which it can invest in and acquire major companies around the world in a variety of industries.

Read this next

Digital Assets

BlackRock digs further into crypto with metaverse ETF

BlackRock, the world’s largest asset manager with almost $10 trillion in AUM, is set to launch a new metaverse ETF to help investors securely monetize on the booming immersive version of the internet.

Digital Assets

Binance wins license in New Zealand as rival Huobi shutters derivatives

Binance, the world’s largest crypto exchange by traded volume, has obtained licenses to operate in New Zealand, even after rival Huobi shutdown derivatives trading last month due to concerns about regulations.

Retail FX

Hong Kong busts perpetrators of ‘ramp and dump’ scam

Hong Kong’s financial watchdog, the Securities and Futures Commission (SFC), has charged thirteen suspects of market manipulation in a joint operation with the local police.

Institutional FX

TradingView integrates market data from German Tradegate exchange

TradingView announced that it ‎has increased data coverage to allow its users to receive information from ‎and get free access to the intra-day and tick data from Tradegate Exchange.

Retail FX

Spotware Systems introduces Custom Push Notifications for cTrader mobile apps

Spotware Systems, a technology provider for the electronic trading industry, is introducing a new push notification feature to alert mobile users of price swings and market fluctuations through their cTrader app.

Market News

The Week Ahead: 30 September from David Madden, Market Analyst at Equiti Group

Sterling dominated the headlines last week, as there were concerns the UK government might struggle to service its debt.

Inside View

How does the quality of signal providers affect your business?

A must-have onboarding process for brokers with investment services like PAMM, MAM, or copy trading


DBS deploys Nasdaq Trade Surveillance

“The confidence that markets and our clients have in DBS as a safe and trusted banking group is anchored on our ability to detect and respond to anomalous activity, which in turn calls for a robust surveillance and prevention infrastructure.”

Industry News

SEC charges Justin Costello and David Ferraro for securities fraud and posing as billionaire veteran

The Securities and Exchange Commission charged Cannabis executive Justin Costello and David Ferraro, an associate of Costello’s, for promoting the stock of several microcap companies on social media without disclosing their own simultaneous stock sales as market prices rose.