PhonePe Raises $200 Million Investment From Walmart in Its Ongoing Fundraise

Indian digital payments firm PhonePe said on Friday it has raised $200 million (nearly Rs. 1,650 crore) from majority backer Walmart at a pre-money valuation of $12 billion (nearly Rs. 99,000 crore).

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 (nearly Rs. 8,250 crore).

It has raised $350 million (nearly Rs….