PayU acquires BillDesk for $4.7 bn in one of largest Indian fintech deals

The latest deal is happening when the Indian payments segment is seeing huge traction

Prosus-backed fintech firm PayU is set to acquire India’s earliest payment gateway BillDesk in an all-cash transaction of $4.7 billion. This will be the largest acquisition in India’s digital payments space. The deal will also give exit to investors General Atlantic, TA Associates, Temasek, Clearstone Ventures, and Visa.

The proposed acquisition will help PayU, the payments and fintech business of Prosus which operates in more than 20 markets, become one of the leading online payment providers globally by total payment volume (TPV). The combined entity will have a total of 4 billion transactions annually.

Prosus, the global consumer internet group and one