Indian digital payments firm PhonePe said on Friday it has raised $200 million from majority backer Walmart Inc. at a pre-money valuation of $12 billion.
PhonePe, already India’s most valuable payments firm and among the country’s most highly valued startups, said the investment is part of its ongoing fundraise of up to $1 billion.
It has raised $350 million from private equity firm General Atlantic and $100 million from Ribbit Capital, Tiger Global and TVS Capital Funds in the past two months, at the same $12 billion valuation.
