The domestic payments startup is once again in the market looking for buyers after its promoters attempted to sell it unsuccessfully two years ago. This time around, they are trying to sell-off the entire business, in the wake of rapidly growing competition in the digital payment services space and thriving e-commerce industry in the country.
BillDesk promoters are in a rush to sell off, despite the subdued deal sentiment, due to two reasons. First, the demand for digital payment platforms and e-wallets embedded with e-commerce benefits has gone up significantly over the past year, while BillDesk has remained purely as a payment gateway company enabling only banking and merchant website transactions. Consequently, BillDesk lags behind the competition today in its ability to offer an end-to-end payments solution suite. Second, private equity investors, especially General Atlantic (the largest shareholder), also seem to be gravitating towards companies that offer more customer-facing digital payment and e-commerce services.