PhonePe gets $100mn, valued at $12 billion

NEW DELHI: PhonePe has bagged another $100 million in fresh funding from existing backer General Atlantic at a pre-money valuation of $12 billion. The investment is part of the Walmart-owned fintech major’s larger ongoing financing round, through which it aims to garner funding of up to $1 billion. With the latest capital infusion, PhonePe’s total fund count in the current round has touched $850 million.