India-based mobile wallet provider BillDesk has received more than Rs6bn ($85m) in a round led by payment processing firm Visa, Entrackr reported yesterday.
Singaporean state-owned investment firm Temasek also participated in the round through its Claymore Investments subsidiary.
The round comes three months after reports that Visa had committed $200m in direct investment and between $80m and $100m as a secondary purchase. At the time, BillDesk was said to have achieved a valuation of $1.8bn.
Founded in 2000, BillDesk runs an online payment and loyalty platform for users to pay bills by linking their existing bank account. The company initially focused on utilities but has since expanded its offering to areas such as e-commerce.
BillDesk reportedly processes more than $60bn in transactions annually. The company previously secured $150m in a funding round led by growth equity firm General Atlantic in 2015, with participation from Temasek.
Private equity firm TA Associates supplied an undisclosed amount in 2012, after VC firm Clearstone Venture Partners and government-owned financial services firm State Bank of India had injected $7.5m in 2006.
State-owned financial services provider Bank of Baroda and Sidbi Venture Capital, a unit of government-owned development financial institution Small Industries Development Bank of India, put in an undisclosed amount in 2001.
BillDesk’s shareholders also include investment firm March Capital Partners, which was revealed as an investor in 2016, though it is unclear when it backed the company.
