PhonePe raises another $100 million from General Atlantic

CoinBlock.Asia 2023-05-22 08:05

New Delhi, Decacorn fintech firm PhonePe on Monday said it has secured an additional USD 100 million investment from General Atlantic. With this fundraising, General Atlantic and its co-investors have contributed USD 550 million in the ongoing USD 1 billion funding round of PhonePe at a pre-money valuation of USD 12 billion.

“PhonePe is pleased to announce that it has secured an additional USD 100 million investment from General Atlantic, a leading global growth equity firm, as part of its ongoing fundraise.

“This latest tranche brings the total investment from General Atlantic and its co-investors to USD 550 million. The investment reaffirms General Atlantic’s conviction in PhonePe’s business and growth potential,” PhonePe said in a statement.

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With this latest primary infusion from General Atlantic, PhonePe has now raised a total of USD 850 million of primary capital in the current round.

Ribbit Capital, Tiger Global and TVS Capital Funds have also invested during the current funding round of the company.

The Walmart group firm has over 450 million registered users.

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