Prosus Goes Bullish On India With $4.7 Billion BillDesk Deal

Prosus said BillDesk will complement its own PayU business, which operates in India, Latin America and Europe.

Prosus NV doubled down on its investment in India on Tuesday with a $4.7 billion deal for payments platform BillDesk, making it one of the biggest players in the country's fast-growing fintech sector. Prosus, Europe's answer to SoftBank and its Vision Fund, said BillDesk will complement its own PayU business, which operates in India, Latin America and Europe. India has been a major focus for Netherlands-based Prosus but the BillDesk deal is its biggest investment there to date. "This is really a transformative transaction for PayU and its position as one of the leading payment and fintech providers in India and actually in the world," Prosus CEO Bob van Dijk said on a media call.