The company said the growth was primarily driven by market expansion, leadership in the digital payments market, and the launch and scale-up of products and businesses.
Walmart s Flipkart marketplace and PhonePe payments business in India could be $100 billion businesses buoyed by strong growth, the retailer s chief financial officer said on Wednesday at an investor conference.
In January, PhonePe announced raising $1 billion in tranches at a valuation of $12 billion. Since then, the fintech unicorn has raised $550 million from General Atlantic, $100 million from Tiger Global Management, Ribbit Capital and TVS Capital, and $200 million from its largest shareholder Walmart.