Three IIM graduates make ₹3,500 crore each selling payment startup

  • 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.
  • BillDesk had built a global roster of clients and was offering its gateway to millions of customers making India payments on Amazon.com Inc. or Microsoft Corp.’s LinkedIn service, buying Netflix Inc. subscriptions or transacting on Apple Inc.’s local online store.
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