News > PhonePe raises Rs 150 crore from majority stakeholder Flipkart

PhonePe raises Rs 150 crore from majority stakeholder Flipkart

Firstpost | 16/12/2020 06:20 PM | Click to read full article

PhonePe Private Limited has received Rs 150 crore fund infusion from Singapore parent PhonePe Private Limited. According to regulatory filings, this is part of a fund infusion into PhonePe by majority shareholder Flipkart Private Limited, Singapore, which owns close to 87 per cent in the payment entity.

The round is independent of the latest $700 million funding PhonePe raised, which was led by Walmart and minority investors such as Tiger Global Management.