BENGALURU: PhonePe, a fintech platform with a valuation of $12 billion, has raised an additional $100 million from Ribbit Capital, Tiger Global, and TVS Capital Funds (TCF). This investment follows the primary fundraise for 350 million dollars, which ended in January.
After relocating its headquarters to India, PhonePe launched its most recent fundraising campaign with a goal of raising up to $1 billion. Within six weeks, it has raised $450 million. These funds will be used to expand its insurance and payments operations in India, as well as to start and grow new businesses like lending and stockbroking.