Andamanz.in
No Result
View All Result
Thursday, June 8, 2023
  • Home
  • Business
  • Politics
  • City
  • Crime
  • Entertainment
  • Health
  • Tech
  • Sports
Andamanz.in
  • Home
  • Business
  • Politics
  • City
  • Crime
  • Entertainment
  • Health
  • Tech
  • Sports
No Result
View All Result
Andamanz.in
No Result
View All Result
Home Tech

PhonePe Raises Further $100 Million Investment From General Atlantic Throughout Ongoing Funding Spherical

by Staff Reporter
May 22, 2023
in Tech
0
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter


Decacorn fintech agency PhonePe on Monday stated it has secured a further $100 million (about Rs. 828 crore) funding from General Atlantic.

With this fundraising, General Atlantic and its co-investors have contributed $550 million (roughly Rs. 4,555 crore) within the ongoing $1 billion (roughly Rs. 8,282 crore) funding spherical of PhonePe at a pre-money valuation of $12 billion (roughly Rs. 99,387 crore).

“PhonePe is pleased to announce that it has secured an additional $100 million investment from General Atlantic, a leading global growth equity firm, as part of its ongoing fundraise.

“This newest tranche brings the entire funding from General Atlantic and its co-investors to $550 million. The funding reaffirms General Atlantic’s conviction in PhonePe’s enterprise and development potential,” PhonePe said in a statement.

With this latest primary infusion from General Atlantic, PhonePe has now raised a total of $850 million (roughly Rs. 7,000 crore) of primary capital in the current round.

Ribbit Capital, Tiger Global and TVS Capital Funds have also invested during the current funding round of the company.

The Walmart group firm has over 450 million registered users.

In February, PhonePe raised another $100 million in primary capital from new investors Ribbit Capital and TVS Capital Funds with participation from existing investor Tiger Global, at a pre-money valuation of $12 billion (roughly Rs. 99,400 crore). This followed a $350 million (roughly Rs. 3,000 crore) primary fundraise by the company on January 19 from General Atlantic.

PhonePe plans to deploy these funds to scale up its payments and insurance businesses in India, as well as to launch and aggressively scale new businesses like lending, stockbroking, ONDC-based shopping and account aggregators over the next few years.


Samsung Galaxy A34 5G was recently launched by the company in India alongisde the more expensive Galaxy A54 5G smartphone. How does this phone fare against the Nothing Phone 1 and the iQoo Neo 7? We discuss this and more on Orbital, the Gadgets 360 podcast. Orbital is obtainable on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.
Affiliate hyperlinks could also be mechanically generated – see our ethics assertion for particulars.
Tags: AdditionalAtlanticfundingGeneralgeneral atlanticIndiaInvestmentMillionOngoingphonepephonepe raises additional $100 million investment general atlantic phonepeRaiseswalmart
  • Trending
  • Comments
  • Latest

Illegal Sand Mining: A Menace to Havelock Island

February 12, 2023

Eco Diver India Takes a Step Towards Reef Conservation: Offers Free Dive Master Courses to Andaman’s Underprivileged Youths

February 19, 2023

Low stress space shaped over South Andaman Sea, neighbouring area: IMD – Business Standard

February 12, 2023

SCUBA diving industry facing crisis due to illegal practices and compromise in safety

February 21, 2023

Full Ban on Recognized Single Use Plastic Objects all through the Nation from 1st July 2022

0

Large infrastructure undertaking threatens Great Nicobar Island

0

Absconding accused hotelier arrested from Haryana’s Karnal

0

Cold Wave Sweeps Northern States Will Proceed For Subsequent 3 Days IMD

0

Ranbir Kapoor, Alia Bhatt’s rumoured casting leaves netizens terribly unimpressed; Nitesh Tiwari will get trolled, ‘Dimaag Ghutne Main Aa Gaya Hai’

June 8, 2023

NFL: Travis Rudolph Not Responsible in 2021 Capturing

June 8, 2023

Realme 11 Pro 5G Collection India Launch Today: The way to Watch Livestream, Anticipated Value and Specs

June 8, 2023

Malaika Arora to Shefali Jariwala: Stars trolled for sharing pics that ought to've remained within the 'personal folder' as per followers

June 7, 2023

Most Popular

Aamir Khan’s son Junaid to star reverse Janhvi Kapoor’s sister Khushi Kapoor in Love Today remake? Here’s what we all know

March 24, 2023

Rousing welcome to Ok.P.Mammu after successful medals in World Fire Fighters Games 2022

November 29, 2022

The Rise of Hypersonic Balloons: China Leads the Cost in Aerial Warfare

February 13, 2023

LeBron James’ Sport Attracts Shocking Confession from Shai Gilgeous-Alexander

March 24, 2023

Was Virat Kohli Out Or Not Out Off Matthew Kuhnemann? Sunil Gavaskar Gives His Verdict

February 19, 2023

Anuj Kapadia WARNS Anu over making false guarantees to Chotti; picks Maya to accompany daughter on faculty picnic

February 19, 2023
Andamanz.in

Categories

  • Business
  • City
  • Crime
  • Entertainment
  • Health
  • Politics
  • Scuba Diving
  • Sports
  • Tech
  • Uncategorized

Site Navigation

  • Home
  • Contact US
  • Privacy & Policy
  • Terms and Conditions

Recent News

Ranbir Kapoor, Alia Bhatt’s rumoured casting leaves netizens terribly unimpressed; Nitesh Tiwari will get trolled, ‘Dimaag Ghutne Main Aa Gaya Hai’

June 8, 2023

© 2022 Andamanz - All Rights Reserved

No Result
View All Result
  • Home
  • Business
  • Politics
  • City
  • Crime
  • Entertainment
  • Health
  • Tech
  • Sports

© 2022 Andamanz - All Rights Reserved