‘Not typical young startup founders’ — BillDesk trio reap $500 mn each selling stakes

The Print | Sep 2, 2021 at 1:11 PM
  • When three consultants from Arthur Andersen LLP set out to build a digital payments company at the turn of the millennium, the first institutional backer they found was an Indian state-run lender.
  • BillDesk’s earliest backer was Bank of Baroda and a fund run by financier Small Industries Development Bank of India, both government-owned and the anti-thesis of today’s high-profile, global venture capital companies.
  • It earned $253 million in gross revenue in the financial year 2021, while earnings before interest, taxes, depreciation, and amortization was at $42 million.