Search
PhonePe gets investment from majority stakeholder Flipkart
December 15, 2020
PhonePe has raised ₹150 crore (about $21 million) from greater part investor Flipkart, days after it was hived off as a fair-minded substance from the local web-based business market, which had procured the computerized installments firm in 2016.
The reasonableness distribution comes essentially days after PhonePe raised significant capital
worth $700 million raised by Flipkart owner, US-based retailing behemoth Walmart, esteeming the corporate at $5.5 billion.
The Bengaluru-based startup’s Singapore holding firm PhonePe Pvt Ltd assigned 198,000 offers value ₹7,537 each to Flipkart Internet Holding, moreover recorded in Singapore, in light of administrative filings got to by ET via endeavor insight stage Tofler. A PhonePe representative declined to comment.
As per a stockpile, the capital implantation “is normal” and can be utilized for internal endeavor necessities.
Important Links:
- Professional Diploma in Digital Marketing: https://tscfm.org/courses/professional-diploma-in-digital-marketing/
- Professional Diploma in Banking and Financial Services: https://tscfm.org/courses/professional-diploma-in-banking-and-financial-services/