PhonePe raises $21 Mn from Flipkart amid talks of IPO
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Digital payments platform PhonePe has raised INR 150 Cr (about $21 Mn) funding from majority shareholder and ecommerce giant Flipkart. With this round, Flipkart holds about 87% stake in the payments firm and continues to be a majority investor in the payments entity. The development comes soon after PhonePe raised $700 Mn funding from Walmart at a post-money valuation of $5.5 Bn.