PhonePe raises $100 million additional funding from General Atlantic

Walmart-owned fintech firm PhonePe has raised an additional tranche of $100 million from private equity firm General Atlantic and its co-investors at a pre-money valuation of $12 billion.
This new funding is part of PhonePe’s ongoing fundraise of up to $1 billion in capital, following its domicile shift to India last year.

With this tranche, the company has raised $750 million from several global investors. This includes a total of $450 million from General Atlantic alone. The company expects further investments, which will be announced in due course.