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

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. Source: Pixabay

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.