• India
  • Sep 2, 2021
  • 1 min read

Billdesk sold in India's largest fintech deal 🤯

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Billdesk sold in India's largest fintech deal 🤯

What happened — private equity giant Prosus brought the big guns to acquire one of India’s oldest payment processors, Billdesk, in a $4.7 billion deal.

Billdesk basically offers an online payment gateway that lets large enterprises as well as several government entities across India accept payments online, processing over $60B in annual volumes.

The business will now be part of PayU, another Prosus backed payment processor, with the combined entity becoming one of India’s largest processors — handling $147B volumes annually. And as India’s war on cash further intensifies, the new platform is in an excellent position to keep gaining share.

Meanwhile, OG of acquisitions is cooking up another one 🤑

Reliance is apparently looking to spend $1.2 billion on acquiring a major European solar panel maker, REC Group, from its current owners ChemChina.

REC will directly add 1.8GW of solar production capacity to Reliance’s arsenal, while helping the business cut reliance on Chinese suppliers for its fledgling green energy business. Reliance will raise $600M in outside capital to fund the deal.

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