This new funding comes as a part of PhonePe’s ongoing fundraise of up to $1 billion in capital, following its domicile shift to India last year. With this tranche, the company has raised $650 million (around Rs 5,360 crore) from several global investors, PhonePe said in a statement. The $12 billion pre-money valuation makes Walmart-owned PhonePe the most valuable fintech in the country.
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