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PhonePe's fundraising process hits roadblock over valuation mismatch

The Walmart-owned firm has been in talks with several large global investors, to raise up to $1.2 billion

Peerzada Abrar  |  Bengaluru 

Digital payments firm PhonePe, which was out in the market for a large funding round, now seems likely to take more time for this. Its proposal has not evoked much response, said sources in the know.

The Walmart-owned firm has been in talks with several large global investors, to raise up to $1.2 billion (Rs 8,500 crore). Having grown swiftly since the acquisition of Flipkart by Walmart in 2018, it was looking at a valuation of $10 billion. However, factors such as lack of diversification, new e-commerce and data policies, as well as the overall investment environment, have slowed ...

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First Published: Sun, January 12 2020. 22:47 IST
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