Phonepe raises $200 million in Funding from its largest Shareholder Walmart

Digital payments and financial services unicorn PhonePe have received $200 million additional funding from Walmart at a pre-money valuation of $12 billion. PhonePe announced in January that it would raise $1 billion in tranches. Walmart is the company’s largest shareholder but did not reveal its shareholding.

According to a statement, PhonePe expects to raise further funding, which will be announced soon. Since January, the company has received $350 million from General Atlantic and $100 million from Tiger Global Management, Ribbit Capital, and TVS Capital.