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Aya Lin · · 1 min readIn brief: India has a new billion-dollar tech company
US-based payments processor Visa is taking a minority stake in BillDesk, making the Mumbai-based company the latest entrant in India’s unicorn club of private technology companies valued at over US$1 billion. While Visa did not disclose details, it is expected to value the 18-year-old company at US$1.8 billion.
The transaction involves a primary investment of about US$200 million, with a secondary purchase of shares from existing investors and founders of US$80 to 100 million, according to one person briefed on the matter.
Source: Economic Times
Editing by Terence Lee
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