{"id":1900608,"date":"2023-03-18T06:56:22","date_gmt":"2023-03-18T10:56:22","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/walmart-pumps-200-million-in-indian-fintech-phonepe-in-ongoing-fundraise\/"},"modified":"2023-03-18T06:59:21","modified_gmt":"2023-03-18T10:59:21","slug":"walmart-pumps-200-million-in-indian-fintech-phonepe-in-ongoing-fundraise","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/walmart-pumps-200-million-in-indian-fintech-phonepe-in-ongoing-fundraise\/","title":{"rendered":"Walmart pumps $200 million in Indian fintech PhonePe in ongoing fundraise"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fwalmart-pumps-200-million-in-indian-fintech-phonepe-in-ongoing-fundraise%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1900608&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p> <br \/>\n<?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"entry-content\">\n<p>BENGALURU (Reuters) \u2013     Indian digital payments firm PhonePe said on Friday it has raised $200 million from majority backer Walmart Inc at a pre-money valuation of $12 billion.<\/p>\n<p>PhonePe is already India&#8217;s largest payments company and one of the most highly-valued startups in the country. The investment is part its ongoing fundraise for up to $1Billion.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<\/p>\n<p>The company has received $350 million from General Atlantic, $100 million from Ribbit Capital and Tiger Global, and a valuation of $12 billion from TVS Capital Funds.<\/p>\n<p>American retail giant Walmart, which in 2018 acquired a majority stake in PhonePe, will remain a major investor, the Indian company stated without disclosing its stake.<\/p>\n<p>Despite the funding freeze, the Indian digital payments market has seen a surge in popularity due to online payments and startup ambitions to expand into lucrative financial services.<\/p>\n<p>PhonePe stated that it will use these funds to help build and scale new businesses, including lending, wealth management, and insurance.<\/p>\n<p>PhonePe was separated from Flipkart, the Indian e-commerce company. It also moved its registered headquarters from Singapore, India to India in late 2013. Walmart paid the almost $1 billion tax bill.<\/p>\n<p>According to some reports, the relocation was done to facilitate entry to the highly-regulated financial services sector, particularly lending.<\/p>\n<\/p>\n<p> (Reporting by Meenakshi Maidas in Bengaluru; Editing by Savio D&#8217;Souza)<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Thursday&#8217;s financial documents reveal deeper ties between Biden and the Chinese Communist Party. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>The author of \u2018Rich dad poor dad, who infamously predicted the 2008 crisis, warns of \u2018serious trouble&#8217; for the U.S. bond market. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>The Biden administration has released footage of the moments leading to Russia&#8217;s downing a U.S. drone.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>OAN NewsroomUPDATED 5:00 PM \u2013 Friday, March 17, 2023 The town of Sedona in Arizona recovers after mass flooding. One America&#8217;s James\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>SHANGHAI (Reuters) -Baidu and Pony.ai said on Friday they have won permits to provide fully driverless ride-hailing services in the Chinese capital\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Stephen Nellis and Krystal Hu (Reuters) -Huawei Technologies Co Ltd has replaced more than 13,000 parts in its products that were\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Victor Pinheiro SAO PAULO (Reuters) \u2013 The Brazilian government is studying whether to regulate Internet platforms with content that earns revenue\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>(Reuters) \u2013 Generative artificial intelligence has become a buzzword this year, capturing the public&#8217;s fancy and sparking a rush among Microsoft and\u2026 <\/p>\n<\/p><\/div>\n<p><\/p>\n<hr>\n<p>&#8220;From <a href=\"https:\/\/www.oann.com\/business\/walmart-pumps-200-million\/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=walmart-pumps-200-million\">Walmart raises $200 million for Indian fintech PhonePe<\/a>&#8221;<\/p>\n<hr>\n<p><span style=\"font-size:11px\"><em>&#8220;The views and opinions expressed here are solely those of the author of the article and not necessarily shared or endorsed by Conservative News Daily&#8221;<\/em><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>BENGALURU (Reuters) \u2013 Indian digital payments firm PhonePe said on Friday it has raised $200 million from majority backer Walmart Inc at a pre-money valuation of $12 billion. PhonePe, already India\u2019s most valuable payments firm and among the country\u2019s most highly-valued startups, said the investment is part of its ongoing fundraise of up to $1<\/p>\n","protected":false},"author":66,"featured_media":1900609,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[11506,22092,22093,13989,4085,22091,16485,11489],"class_list":["post-1900608","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann","tag-11506","tag-fintech","tag-fundraise","tag-indian","tag-ongoing","tag-phonepe","tag-pumps","tag-walmart"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1900608","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1900608"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1900608\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1900609"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1900608"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1900608"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1900608"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}