Bengaluru based firm PhonePe earns $101.5 Mn Fund from its parent firm in Singapore
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Bengaluru based digital payment firm PhonePe gets $101.5 Mn Fund infusion from its parent firm PhonePe Pvt Ltd Singapore. The investment came after the founders raised their equity stakes in the company in April. Rahul Chari Vardha picked up 1.67 mn equity shares & Sameer Nigam picked up 6.63 mn shares at a nominal value of Rs 1. Flipkart had acquired PhonePe in 2015 & in March 2019 permitted to operate as a separate entity.