PhonePe raises Rs 150 crore from majority stakeholder Flipkart bringing its valuation to $5.5 billion
PhonePe currently has over 250 million registered users and competes with the likes of Paytm, GooglePay and WhatsApp Payments.
Dec 16, 2020 15:01:35 IST
PhonePe Private Limited has received Rs 150 crore fund infusion from Singapore parent PhonePe Private Limited, according to documents sourced from business information platform
Tofler. As part of the transaction, close to 198,755 shares were allotted to PhonePe’s Singapore entity. According to regulatory filings on Accounting and Corporate Regulatory Authority, Singapore, accessed by
livemint, this is part of a fund infusion into PhonePe Private Limited by majority shareholder Flipkart Private Limited, Singapore, which owns close to 87 percent in the payment entity.