Digital payments major PhonePe has received another fresh infusion of $100 million from existing backer General Atlantic and its affiliate funds as part of its $1 billion primary funding, according to ET report.
The new tranche has been raised at a $12 billion pre-money valuation, just as in the previous tranches.
With this, the digital payments firm has stacked up $750 million till date in its ongoing raise. General Atlantic and its affiliate funds have poured in a total of $450 million as part of the raise.
This is the fourth tranche of funding for the digital payments major, which announced a separation of ownership from domestic ecommerce company Flipkart last December.
Prior to this fundraise, General Atlantic held about 2.9% in PhonePe, with Flipkart parent Walmart owning roughly about 70%. The final shareholding structure is expected to be locked by the end of this primary raise.
