Flipkart co-founder Binny Bansal planning to invest $100-150 mn in PhonePe

PhonePe has a formidable market presence in the Indian digital payments space. The app leverages the Unified Payments Interface (UPI) like its other peers

Binny Bansal

Binny Bansal

BS Web Team New Delhi
Binny Bansal, the co-founder of Flipkart, is considering investing $100–150 million in the online payment platform PhonePe. The development has come to light as the digital payments company is conducting a financing round, according to a report in The Economic Times (ET). If successful, the investment will be among the largest individual investments in a new-age company.
Quoting a person familiar with the matter, the report said, "The amount that he (Binny Bansal) is investing is yet to be finalised. The talks have been on and are likely to close soon."
PhonePe has already raised about $450 million in primary capital from General Atlantic, Tiger Global, Ribbit Capital, etc. With a stake of close to 70

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First Published: Mar 10 2023 | 10:12 AM IST

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