$75 mil­lion

Mint ST - - FRONT PAGE -

In­fused by Flip­kart in Phonepe af­ter it ac­quired the mo­bile pay­ments busi­ness in April 2016

Phonepe has been try­ing to raise funds in­de­pen­dently as it looks to com­pete with arch ri­val Paytm which is backed by Softbank

pay­ments busi­ness and a fund­ing boom in the start-up ecosys­tem could be key fac­tors driv­ing the high val­u­a­tions, but it is un­clear whether Phonepe would be able to at­tract in­vestors at such lofty lev­els.

Phonepe is look­ing to raise fresh funds in­de­pen­dently to cash in on the growth in dig­i­tal pay­ments by ex­tract­ing a high val­u­a­tion and form a con­sor­tium of in­vestors who can of­fer big doses of fresh funds it needs to win the pay­ments war over the next few years.

Even if Phonepe achieves the $10 bil­lion val­u­a­tion mark,

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.