Prosus and PayU pulled an Elon Musk on Billdesk. Now the Indian fintech firm wants to fight back
Synopsis
With much of PayU and Billdesk kept in the dark, the Prosus-led termination of the Indian start-up ecosystem’s second biggest deal ever has sent shockwaves across the fintech industry. Billdesk is gearing up for a fightback.
It is India’s own version of Elon Musk walking away from the multibillion dollar Twitter deal. With recession looming and a bloodbath in technology stocks globally, Amsterdam-based investment firm Prosus terminated the deal to buy Billdesk through its portfolio company PayU for USD4.7 billion.Two critical questions.Why on earth did the Indian startup ecosystem’s biggest deal after Walmart’s acquisition of Flipkart crumble?What are Billdesk’s
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