FINTECH PLATFORM PHONEPE on Friday said it has raised an additional $200 million in primary capital from Walmart at a pre-money valuation of $12 billion.
The latest fund infusion is part of the larger, ongoing $1-billion round that the Bengaluru-based company had earlier announced.
Of this, the startup has already received $650 million so far, and expects the rest in due course. Its backers also include General Atlantic, Ribbit Capital, Tiger Global and TVS Capital Funds.
PhonePe's pre-money valuation of $12 billion is more than double of what its close competitor, Paytm, commands in the public market.
This story is from the March 18, 2023 edition of Financial Express Mumbai.
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This story is from the March 18, 2023 edition of Financial Express Mumbai.
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