Prosus’s acquisition of India’s BillDesk, while giving the Naspers subsidiary the largest addition to its portfolio to date, also helps consolidate its place as a global financial services player, adding another piece to its overall plan to grow its lending business and become a digital bank.

Financial technology (fintech) has become a major area of investment and growth in recent years, attracting large pools of capital and skyrocketing valuations. Though ultimately foiled by the Chinese government’s ongoing technology crackdown, the largest listing set for 2020 had been that of Jack Ma’s Ant Group at $37bn (R530bn). ..

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now