Private Equity

Other Private Equity/Strategic Investments

Walmart invests $200-M in Indian fintech unit PhonePe

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Bangalore-based Payment and financial services unicorn PhonePe has raised an additional USD 200 million from its parent company - US-headquartered retailer Walmart - at a pre-money valuation of USD 12 Billion. The fresh funding is part of PhonePe's ongoing fundraise of up to USD 1 Billion following its domicile shift (from Singapore) to India last year. The company plans to deploy the new funds to build and scale new businesses like insurance, wealth management, lending, stockbroking, ONDC-based shopping, and account aggregators.

From the Venture Intelligence PE-VC Deal Database: In January 2023, PhonePe raised USD 350 million in funding from private equity firm General Atlantic. In February, it had attracted USD 100 million from TVS Capital, Ribbit Capital and Tiger Global. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)