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