Visa likely to invest $250 mn in domestic payment giant Billdesk

Billdesk processes around $50 billion worth of payments annually and is growing at around 40 per cent annually

Global payments facilitator Visa is likely to invest $250 million into Indian payment gateway Billdesk with the company expected to be valued around $2 billion as per a Times of India report.

Founded by former Arthur Andersen executives MN Srinivasu, Karthik Ganapathy and Ajay Kaushal, the company might yet seek for higher valuation. It is currently backed by the likes of General Atlantic, Clearstate Ventures and Singapore based Temasek Holdings. Billdesk provides the companies the backend infrastructure to accept online payments.

In response to queries about the deal, Visa said, "As a policy, the company doesn't comment on partnerships or investment speculation.”

Billdesk