PhonePe raises additional $100 million from General Atlantic, Tiger Global, others

Decacorn fintech firm PhonePe on Monday said it has secured an additional $100 million investment from General Atlantic. With this fundraising, General Atlantic and its co-investors have contributed $550 million in the ongoing $1 billion funding round of PhonePe at a pre-money valuation of $12 billion.

"PhonePe is pleased to announce that it has secured an additional $100 million investment from General Atlantic, a leading global growth equity firm, as part of its ongoing fundraise.

"This latest tranche brings the total investment from General Atlantic and its co-investors to $550 million. The investment reaffirms General Atlantic's conviction in PhonePe's business and growth potential," PhonePe said in a statement.

With this latest primary infusion from General Atlantic, PhonePe has now raised a total of $850 million of primary capital in the current round.

Ribbit Capital, Tiger Global and TVS Capital Funds have also invested during the current funding round of the company.

The Walmart group firm has over 450 million registered users.