Walmart-backed PhonePe Raises Additional $100mn From General Atlantic

According to media reports, PhonePe has raised a total of USD 850 million including the latest round

Walmart-owned payments major PhonePe on Monday said that it has secured an additional USD 100 million from private equity firm General Atlantic, in the latest round of its ongoing USD 1 billion fundraising. Including the latest round, PhonePe has raised a total of USD 850 million so far.

In April 2023, PhonePe was speculated to raise more funding from General Atlantic after it secured a funding of USD 100 million as part of its ongoing fundraising process.

With this, General Atlantic's total investment in the fintech platform increased to USD 550 million. Last month, the company had another set of USD 100 million investment from the same firm as part of its giant fund-raising plan.

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