Friday
January 20
2023

PhonePe Raises $350 Million From General Atlantic at $12 Billion Valuation

By Aman Rawat

Walmart-owned PhonePe on Thursday said it has $350 million in its latest funding round from General Atlantic at a pre-money valuation of $12 billion.

The investment is the first tranch of the company’s latest fundraise that could see marquee global and Indian investors put in up to $1 billion in the fintech firm.

PhonePe plans to deploy the funds to make investments in infrastructure, including development of data centres and build financial services offerings at scale in the country.

Source: Live Mint (link opens in a new window)

Categories
Finance, Investing, Telecommunications
Tags
data, digital finance, digital payments, financial inclusion, impact investing, infrastructure