04-12-2023 04:36 PM | Source: Reuters
India's PhonePe raises another $100 million from General Atlantic, other investors
Walmart Inc-owned Indian payments firm PhonePe on Wednesday said it had raised an additional $100 million from General Atlantic and other investors as part of its ongoing $1 billion fundraise to expand into the lucrative lending space.
With the latest round, PhonePe, India's most valuable payments firm with an estimated value of $12 billion, has raised $650 million across four tranches from its backers, including Tiger Global.
General Atlantic had invested $350 million in the fintech during the same funding round in January.
At over 46%, PhonePe in March had the largest market share among applications running the unified payments interface (UPI) digital payments system, per data from the National Payments Corporation of India.
Latest News
Evening Roundup : A Daily Report on Bullion Energy &...
ITI AMC announces activation of new OPA
India's Blue Star posts jump in Q4 adjusted profit o...
Gautam Adani meets new British envoy to India, wishe...
FIIs stood as net buyers in equities as per May 02 d...
NPCI partners Bank of Namibia to develop UPI-like pa...
Report on power sector equity raises to power up to ...
Motilal Oswal Flexicap Fund Celebrates a Decade of H...
Buy Zinc above 258.50 SL below 256.50tct 261/262 - A...
Blue Star`s FY24 Total Income rises 21.4% to Rs 9685...