Mumbai, Nov 16 (PTI) Global major Visa has picked up a minority stake in domestic payments processing company Billdesk for an undisclosed sum.
According to recent reports, Billdesk was looking to raise USD 250 million from Visa at an enterprise valuation of over USD 1.5 billion.
“Visa’s investment and collaboration will help BillDesk develop new product lines for its payments and loyalty businesses and also expand its footprint into other geographies,” an official statement said.
Payworld looks to raise up to $25 m by selling stakes * Payments company Payworld is looking to raise up to USD 25 million as growth capital by selling stakes either to a strategic or a financial investor, a senior official said.
The 2012-incorporated company’s equity is held only by its promoters and its aggressive plans require capital, its chief operating officer Praveen Dhabhai said.
The company is clocking revenues of Rs 65 crore at present and aims to take this up to Rs 100 crore in the next year, he said, adding that this will be possible through an increasing the gross transaction value to Rs 7,500 crore from the present Rs 4,000 crore.
It has a presence in at 2 lakh retailers in 20 states who carry out services including domestic remittances, rail bookings and also sale of investment products.
Integrated media firm Gozoop acquires mktg agency Hat Media * Integrated media company Gozoop
on Friday said it has acquired real-time marketing agency Hat Media, its fourth acquisition since 2013.
Hat Media is known for its management of the Mumbai Police’s Twitter handle.
“With this business acquisition, Hat Media’s clients will be consolidated within Gozoop and Hat Media’s founder Sunchika Pandey will head the citizen initiatives and government organisation division of Gozoop as the group director,” it said in a statement.
This is published unedited from the PTI feed.