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Here’s a lowdown of the top deals from the startup space.
PhonePe gets additional $100 million from General Atlantic
Digital payments service provider PhonePe has confirmed a $100 million additional tranche of investment from General Atlantic, a leading global growth equity firm, and its co-investors as part of its ongoing fundraise. The company has raised $750 million in fresh funds this year.
The homegrown digital payments decacorn raised $350 million from General Atlantic in January 2023 and $100 million from Ribbit Capital, Tiger Global and TVS Capital Funds in February. The fintech platform also secured $200 million in primary capital from Walmart at a pre-money valuation of $12 billion in March.
Also read: PhonePe gets additional $100 million from General Atlantic as part of its ongoing $2 billion fundraise
The new funding comes as part of PhonePe's ongoing capital raise of up to $2 billion, following its shift to India last year. The company’s co-founder and CEO Sameer Nigam told CNBC-TV18 in an exclusive interaction that the company is in the middle of a fundraiser which will mostly close at the end of this month.