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…
Digital payments major PhonePe said it has raised $350 million in funding from global private equity firm General Atlantic at a pre-money valuation of $12 billion, according to ETtech report. The investment marks the first tranche of an up to $1 billion total fundraise that commenced in January 2023, the company said in a statement.…
Walmart-owned digital payments provider PhonePe has acquired homegrown Android app store Indus App Bazaar for $60 million (roughly Rs 438 crore), according to IANS report. The move, sources said, will strengthen PhonePe’s ‘Switch’ app that aggregates several useful apps at one place. Both the companies were yet to release an official statement. PhonePe launched the…
Online payment firm PhonePe has pledged to enhance female representation from 16 percent to 25 percent by the end of year 2021. The startup is aiming to increase the representation of women in two senior leadership position – directors and vice presidents. In the declaration of its diversity & inclusion (D&I) charter, the startup aims…
PhonePe has raised Rs 150 crore from Flipkart, a majority shareholder in the company, according to ET report. The equity allotment comes just days after PhonePe raised primary capital worth $700 million in a round led by Flipkart owner, US-based retailing behemoth Walmart, valuing the company at $5.5 billion. The Bengaluru-based startup’s Singapore holding company…
Digital payments platform, PhonePe is looking to fill 700 open job positions in the coming few months, as per reports, owing to the business growth on account of the increased usage of digital payment platform due to the coronavirus pandemic. Manmeet Sandhu, Chief People Officer, PhonePe told to ET – “We have over 700 open positions…
Flipkart, e-commerce marketplace, has announced a partial spin-off of PhonePe, digital payments platform. The development is made so that PhonePe can access dedicated capital to fund its long-term ambitions over the next three to four years. The partial spin-off also provides payments platform an opportunity to constitute a new Board of Directors focused on supporting…
Flipkart, India’s leading e-commerce marketplace, announced that it has pumped an additional $28 million into PhonePe, taking the total infusion till date to $928 million, according to regulatory filings made by the Company’s Singapore-based parent. PhonePe Singapore is a fully-owned Flipkart Internet entity. “Walmart will continue to bankroll PhonePe,” said a person in the know.…
Bengaluru-based fintech startup PhonePe recently announced that it has raised fresh capital from its Singapore-based parent entity PhonePe Private Limited, Singapore. According to a company filing, PhonePe has received $60 million (Rs 427.25 crore) in fresh capital from its Singapore parent, PhonePe Pvt Ltd. PhonePe allotted 1mn equity shares at a value of ₹10 with…
Vijay Shekhar Sharma, Founder, and CEO of Indian digital payment giant PayTM recently announced that his company expects to turn profitable after two years as it is monetizing the existing customer base and eyes financial services as its next major frontier for growth. As per an interview with The Press Trust of India, Sharma said…
BharatPe, a UPI payments system, is planning to hire 75 engineers and project managers this year to expand its technology team and will set up a tech-hub in Delhi for the expanded team. The company was founded by Ashneer Grover and Shashvat Nakrani in 2018. In a statement, the fintech player said, “BharatPe is coming…