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Walmart Startup PhonePe: If you are using PhonePe app for Digital Payments, then you must read this news. PhonePe is planning to raise money in the market with the help of its investors. According to media reports, Walmart Inc’s digital payments brand PhonePe has been raised by General Atlantic and existing investors including Tiger Global Management, Qatar Investment Authority and Microsoft Corp. Working on a plan to raise billion dollars.
what is the reason
PhonePe has taken such a decision after being troubled by private funding for startups. This round, completely equity based, is expected to be completed in the next two weeks. In this, the valuation of PhonePe can be estimated at around $ 13 billion.
Will become valuable brands
If PhonePe proves to be successful in doing this, then it can be included in the list of India’s most valuable brands. At the same time, the size of the digital payment market of Boston Consulting Group is estimated to triple to reach $ 10 trillion by 2026.
This biggest investor
Company PhonePe’s parent entity Flipkart is in discussion with SoftBank Group Corp’s Vision Fund, an investor. It will emerge as the largest investor in Walmart. SoftBank has significantly reduced its investment in 2022 this year due to the loss of the portfolio.
News Reels
phonepe will beat paytm
Bangalore-based company PhonePe can beat Paytm’s parent company One97 Communications Ltd with its new valuation. Although SoftBank has also invested in Paytm. The market capitalization of One97 Communications has come down to $4 billion. After listing in the stock market last year, the market capitalization has decreased by 70 percent. Competition between PhonePe, Paytm, Alphabet Inc’s Google Pay and Amazon.com Inc’s Amazon Pay is increasing.
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