PhonePe gets ₹743-cr funding

PhonePe, an online wallet company and subsidiary of Flipkart, has received ₹743 crore ($111 million) through fund infusion from its parent entity in Singapore, according to company filings sourced from business intelligence platform, paper.vc. PhonePe Singapore has infused the funds in the India entity subscribing to 2,915,964 shares at ₹2,450 apiece.

PhonePe was acquired by Flipkart in 2016.