Page 3 - Burzin Engineer News Today

The fintech firm was last valued at around $5.5 billion in December 2020, based on multiple media reports

PhonePe was founded by ex-Flipkart executives Sameer Nigam, Rahul Chari and Burzin Engineer, and was acquired by the ecommerce giant in 2016.

Ecommerce major Flipkart has completed the full ownership separation process of digital payments platform PhonePe

PhonePe co-founder and chief reliability officer Burzin Engineer said the $150 million investments will take the overall capacity to over 14 mega watt spread across three facilities in Bengaluru and the one inaugurated at Navi Mumbai

Speaking to reporters after the launch of a data centre facility at Navi Mumbai, Chari said PhonePe will be investing USD 200 million in data centres. He said the company has already invested USD 150 million but did not specify a timeline for investing the remaining USD 50 million.

PhonePe, NTT and Dell Technologies on Thursday launched what is billed as the countrys first data centre with a smart cooling technology. 

PhonePe's co-founder and chief reliability officer Burzin Engineer said the USD 150 million investments will take the overall capacity to over 14 mega watt spread across three facilities in Bengaluru and the one inaugurated at Navi Mumbai on Thursday.

PhonePe has said that it is well on its way to invest up to $200 Mn in building data centres across the country. 

The center will also help the company to build sustainable and efficient infrastructure to further seamlessly scale its operations across the country, , PhonePe

The digital payment company is seeking a valuation of USD 8-10 billion and plans to list on Indian bourses. Get more IPO News and Business News on Zee Business.