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PhonePe recently raised $350 million in funding from General Atlantic, a leading global growth equity firm, at a pre-money valuation of $12 billion, making it a decacorn.
Fintech firm PhonePe on Wednesday said it had to pay Rs 8,000 crore in taxes for shifting its domicile to India and is also likely to incur an accumulated loss of Rs 7,300 crore.
PhonePe CEO Sameer Nigam has said that as many as 20 unicorns are willing to move to India if regulations are eased.
PhonePe’s investors had to pay a very high price to relocate to India, chief executive Sameer Nigam said
The local laws related to shifting of domicile by businesses are not "not progressive", according to the decacorn firm.