Fintech company PhonePe has raised a $200M funding round led by Walmart.
The company processes 4 billion transactions per month.
- According to the company, PhonePe processes 50% of the 8 billion transactions made in India per month.
- The platform has around 450 million registered users and expects to have $504M in revenue in 2023.
- Walmart,
which is a major shareholder in the company, believes the platform can
become a cross-seller and earn new revenue streams from verticals such
as insurance.
- This round was raised at a $12B valuation for Walmart.
- The company is based in Bengaluru, India.
- The investment makes PhonePe the most valuable fintech startup in the country.
