Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the chaty domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/u144920493/domains/currencyveda.com/public_html/wp-includes/functions.php on line 6121

Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the trendy-news-pro domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/u144920493/domains/currencyveda.com/public_html/wp-includes/functions.php on line 6121
PhonePe raises $200 million in additional funding from Walmart - CurrencyVeda
TOP NEWS

PhonePe raises $200 million in additional funding from Walmart

IPO Opens

One of the biggest financial platforms in India, PhonePe, revealed today that Walmart has contributed an additional $200 million in primary funding, valuing the company at $12 billion.

Following PhonePe’s relocation to India as its domicile last year, it is currently raising up to $1 billion in capital. This latest fundraising is a part of that effort. The company has raised $650Mn from numerous international investors with this tranche. The company anticipates more investments, which will be disclosed when they become available.

PhonePe intends to use these funds to launch and grow new businesses in industries like insurance, wealth management, lending, stockbroking, account aggregators, and insurance. The money raised would also assist PhonePe in accelerating the next phase of UPI payment growth in India, including Credit on UPI and UPI light.

PhonePe was established in December 2015 and has since grown to become one of India’s largest finance platforms, facilitating both consumer and merchant digital inclusion. More than one in three Indian adults use PhonePe, which has 450 million registered users.

Source: mint

Leave a Reply

Your email address will not be published. Required fields are marked *