Stay updated with breaking news from Phonepe Valuation. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
PhonePe on Wednesday said it had raised an additional $100 million from General Atlantic and other investors as part of its ongoing $1 billion fundraise to expand into the lucrative lending space.
The deal, which was poised to fetch between $200-$300 million, has hit a snag in the latter stages of due diligence.
One of India's leading fintech platforms, PhonePe, said today that it has raised another $100 million in primary capital from Ribbit Capital, Tiger Global, and TVS Capital Funds at a $12 billion pre-money valuation.
PhonePe has successfully digitised 3.5 crore offline merchants spread across the country, covering 99 per cent pin codes in the country.
The fundraise follows PhonePe's recently announced change of domicile to India and full separation from Flipkart.