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General Atlantic grabs minority stake in India’s BillDesk

23 Oct 2012

Global growth investor General Atlantic is reported to be in talks to buy a minority stake in e-payments processing company BillDesk.

Part of the funding could include a secondary purchase of shares from an existing investor, according to India’s Economic Times.

The deal would be the second investment the company has received this year, following private equity firm TA Associates’ acquisition of a minority stake back in April.

BillDesk has grown to provide payment facilities for more than 50 of India’s largest banks since it was founded in 2000.

Two years ago Lightspeed Venture Partners led a $10.3m investment in Itz Cash Card, an Indian multi- purpose pre-paid card company.

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