Walmart-owned PhonePe receives fourth fund infusion worth $60 mln in FY20

BENGALURU : Digital payments firm PhonePe has received a ₹427.72 crore ($60 million) investment from its Singapore-based parent, a regulatory filing showed.

The board of PhonePe Pvt. Ltd has approved issuing about 1 million shares to its parent PhonePe Pvt. Ltd, Singapore, at ₹4,230 each, according to a regulatory filing accessed by private investment tracking platform, Paper.vc.

This is the fourth time this fiscal year that PhonePe is receiving an investment from its parent, making the total FY20 investment at around ₹2,116 crore ($295 million). Previously, it had received ₹585.66 crore ($82.5 million) in December 2019; ₹405 crore in October 2019; and ₹698 crore in July 2019.