PhonePe To Raise $1 Billion

Fin-tech company, PhonePe is looking to secure $1 Billion from China’s Tencent and Tiger Global. This decision comes soon after Flipkart allowed the subsidiary to operate as a separate entity. PhonePe has now been permitted to set up an independent board and raise fresh funding from external investors. Through this fundraising, the company is planning to boost its valuation to – ~$8 Billion. According to reports, ‘PhonePe is in discussions with Tencent as it could leverage a strategic investor willing to back it for a long-term, especially to fight well-capitalised Paytm.’ As per reports, it could take nearly 2-3 months for these investment talks to close. On successful closure, this would turn out to be the largest fundraise for PhonePe till date.

Source: Times Of India

📢 Hungry for more deals? Visit CashKaro stores & online shopping categories to get exclusive coupons and save up to ₹15,000 per month. Download the app - Android & iOS to get free ₹25 bonus Cashback!
Previous articleGoogle Pixel 3XL Price Slashed By Rs.28000 | CashKaro News Network
Next articleGAP Tops For Women Starting From Rs.280 /-

LEAVE A REPLY

Please enter your comment!
Please enter your name here

four × one =