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Walmart-owned PhonePe has invested over ₹800 crore in its subsidiaries in the last year to grow businesses ranging from insurance broking to wealth management and hyperlocal ecommerce, regulatory filings show.
The infusion of Rs 426 crore to PhonePe Insurance Broking Services points to the payment company's bullish bet on the segment. PhonePe has infused more than Rs 1,000 crore as equity investment in its insurance unit since it was licensed, according to information sourced from the Registrar of Companies.
Emerging risks like cyberattacks and climate change became more prominent in 2023, highlighting the importance of diversifying portfolios beyond traditional assets.
Gold ETFs can be a fine way to put money into gold investments depending on certain factors. There is a lot at stake though there are benefits too for investors looking to benefit from differences in gold prices over a period.
According to experts, while the stockbroking space is crowded, by providing a one-stop solution for payments, investments, and more, PhonePe aims to solidify its position as a comprehensive financial services provider. Existing players believe that if PhonePe wants to stand out, it must prioritise innovation and user experience.