PhonePe receives $100 million in funding, valued at $12 billion

PhonePe has secured an additional $100 million from General Atlantic and co-investors as part of its ongoing $1 billion funding round. This brings their total funding this year to $850 million and has resulted in a valuation of $12 billion.

In January, PhonePe announced that it raised $1 billion in stages. Its valuation is now $12 billion. Since then, the fintech company has received $550 million from General Atlantic, including a $100 million last month. There is also $100 million investment from Tiger Global Management, Ribbit Capital, and TVS Capital, and $200 million from Walmart, its largest shareholder.

PhonePe spun off from Flipkart and became fully Indian-domiciled in 2022 after raising funds.