Friday, 24 March, 2023

PhonePe raises Rs 150 cr from owner Flipkart

<p>Digital payment platform PhonePe has raised Rs 150 cr from majority stake owner Flipkart, days after it was hived off as an independent company from the e-commerce marketplace, which had acquired it in 2016. This has come days after PhonePe raised $700 mn in a round led by Flipkart owner, Walmart, at a valuation of $5.5 bn. PhonePe currently has over 250 mn registered users in India and is a completion to Google Pay, Paytm, Facebook.</p>