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Walmart's PhonePe investing $200 mn to set up data centres in India

The Bengaluru-based firm is setting up data centres in India at a time when it has completed three steps to move its domicile to India

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PhonePe is also setting up data centres in India at a time when the company has completed three steps to move its domicile to India

Peerzada Abrar Bengaluru

3 min read Last Updated : Oct 20 2022 | 7:56 PM IST

Walmart-owned fintech firm PhonePe is investing about $200 million to set up data centres in India, its Co-founder and Chief Technology Officer Rahul Chari said on Thursday.

The Bengaluru-based firm is setting up data centres in India at a time when it has completed three steps to move its domicile to India. The company has over the past year moved all its businesses, including insurance and wealth broking, and subsidiaries of PhonePe Singapore to PhonePe Pvt Ltd-India.

On Thursday, the firm, along with NTT and Dell Technologies, launched the country’s first data centre with a smart cooling technology in Mumbai.

Topics : PhonePe Fintech sector Walmart Bengaluru fintech companies Fintech firms Fintech Data policy data hub Freecharge PhonePe Start-up co-founder technology boom

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