“PhonePe is happy to announce that it has secured an extra USD 100 million funding from Basic Atlantic, a number one world development fairness agency, as a part of its ongoing fundraise.
“This newest tranche brings the entire funding from Basic Atlantic and its co-investors to USD 550 million. The funding reaffirms Basic Atlantic’s conviction in PhonePe’s enterprise and development potential,” PhonePe mentioned in an announcement.
With this newest main infusion from Basic Atlantic, PhonePe has now raised a complete of USD 850 million of main capital within the present spherical.
Ribbit Capital, Tiger World and TVS Capital Funds have additionally invested through the present funding spherical of the corporate.
The Walmart group agency has over 450 million registered customers.