PhonePe raises another $200 mn in ongoing funding from its largest ...
18 October 2024
Digital payments and financial services unicorn PhonePe has raised another $200 million in its ongoing proposed $1 billion funding round from its largest shareholder Walmart at a pre-money valuation of $12 billion. In January, PhonePe announced raising $1 billion in tranches at a valuation of $12 billion. Since tan, the fintech unicorn has raised $350 million from General Atlantic and $100 million from Tiger Global Management, Ribbit Capital, and TVS Capital. The company expects further investments, which will be announced in due course, it said in a statement on March 17. Moneycontrol first reported in October about PhonePe eyeing new fundraising from General Atlantic and others at a valuation of $12 billion. PhonePe’s fundraising follows the company’s spin-off from e-commerce major Flipkart, which was announced in December. The Flipkart spin-off also completes PhonePe's transition to a fully Indian-domiciled company, which began in 2022.
Digital payments and financial services unicorn PhonePe has raised another $200 million in its ongoing proposed $1 billion funding round from its largest shareholder Walmart at a pre-money valuation of $12 billion. In January, PhonePe announced raising $1 billion in tranches at a valuation of $12 billion. Since tan, the fintech unicorn has raised $350 million from General Atlantic and $100 million from Tiger Global Management, Ribbit Capital, and TVS Capital. The company expects further investments, which will be announced in due course, it said in a statement on March 17. Moneycontrol first reported in October about PhonePe eyeing new fundraising from General Atlantic and others at a valuation of $12 billion. PhonePe’s fundraising follows the company’s spin-off from e-commerce major Flipkart, which was announced in December. The Flipkart spin-off also completes PhonePe's transition to a fully Indian-domiciled company, which began in 2022.
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