📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!
  • google app store apple app store
    • ✖

      Question

      Walmart-owned PhonePe has secured an additional $100

      million investment from General Atlantic, a leading global growth equity firm, at a pre-money valuation of _____ so as to scale its payments and insurance businesses in India.
      A $12 billion Correct Answer Incorrect Answer
      B $14 billion Correct Answer Incorrect Answer
      C $17 billion Correct Answer Incorrect Answer
      D $19 billion Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      Walmart-owned PhonePe has secured an additional $100 million investment from General Atlantic, a leading global growth equity firm, at a pre-money valuation of $12 billion.    This new funding is part of PhonePe’s ongoing fundraise of up to $1 billion in capital, following its domicile shift to India last year. With this tranche, the company has raised a total of $850 million from several global investors. This includes a total of $550 million from General Atlantic alone.   PhonePe plans to use the funds to scale its payments and insurance businesses in India. It will also launch and aggressively scale new businesses like lending, stock broking and Open Network for Digital Commerce (ONDC)-based shopping over the next few years.

      Practice Next
      More Beepedia Questions

      Relevant for Exams:

      ask-question