phonepe valuation 2020

According to Fintrackr's estimates, PhonePe has been valued at up to USD 5.7 billion in the new tranche. The deal saw a post money valuation of US$5.5 billion from Flipkart's existing shareholders, Walmart. With this, the company has raised $700 million from these three investors across two tranches in the past eight months. Balraj August 19, 2021. Tiger Global Management and Tencent are the most recent investors. In this financing round, PhonePe is raising USD 700 million in primary capital at a post-money valuation of USD 5.5 billion from existing Flipkart investors led by Walmart. However, the discussions at the said valuation didn't move forward. PhonePe has raised $700 million in a fresh round of fundraising, at a post-money valuation of $5.5 billion. Launched in 2018, PhonePe Switch, is a one-click entry point to a world of apps and allows customers to seamlessly switch between . By Swati Chandra Jul 30 2021 1:51PM 2151 Read. However, the biggest shareholder in the company, Affle . PhonePe - Startup that Broke 1 Billion+ Transactions in One Month Mark. The announcement was made by Flipkart in December 2020. PhonePe is an Indian digital payments and financial technology [6] company headquartered in Bengaluru, Karnataka, India. PhonePe hit an all-time high of 660 million transactions in August with over 90 million active users resulting in an annualised TPV of over $200 billion and it continues to add millions of new . Simple, Fast & Secure One app for all things money. What it means for PhonePe According to Sameer Nigam founder and chief executive of PhonePe, the partial spin-off gives PhonePe access to dedicated long-term capital to pursue . In India among various modes of money transfer UPI was dominant, since its launch in 2016 with just 100.46 crore valuation in the month of November 2016, it has now reached to 4,31,181.89 crore . The app that was acquired by Flipkart at a valuation between $10 and $20 million in 2016, has posted a valuation of over $5.5 billion at the conclusion of 2021. After the new round of investment, the company is now valued Rs 45,000 crore (post-money valuation) that will help the company to strengthen its presence in the digital payment market. Find all your favourite apps on PhonePe Switch. PhonePe is partially spinning out from Flipkart and has raised $700m in a round led by Walmart and supported by prior investors. An NPCI spokesperson did not respond to a request for comment. PhonePe is a subsidiary of Flipkart. The logo of Flipkart is seen on the company's office in . This round, the name of which was not disclosed, was led by Walmart, with participation from some existing investors, PhonePe said. PhonePe, the digital payments unit of Walmart's Indian e-commerce arm Flipkart, said on Thursday it would sell a stake to existing investors for $700 million, helping it fuel growth in a crowded market that includes Google and Amazon, Reuters reports. PhonePe Raising $700 Million At $5.5 Billion Valuation By Amit Chowdhry Dec 8, 2020 PhonePe — an India-based digital payments company within Walmart's Flipkart — announced it was planning to raise $700 million from existing investors at a valuation of $5.5 billion. BENGALURU: Digital payments major PhonePe has raised $700 million in a new funding round led by US retail giant Walmart at a $5.5 billion valuation, while announcing a partial spin-off from parent . As per the department of Business matters filings obtained by Mint, PhonePe allotted 198,755 shares to Flipkart's shareholding . The . . Meanwhile, a person close to the matter said that Flipkart plans . Flipkart Private Limited's US$700 Million Fundraising For PhonePe. PhonePe's fundraising, from Flipkart investors led by Walmart, will give it a valuation of $5.5 billion, the company said in a statement. Value with PhonePe $524 BILLION in revenue $25 BILLION in operating cash flow $11.8 BILLION in returns to shareholders. In comparison, the platform had 21.9 crore users one year ago, marking a growth of about 40 percent in its user base over the past year. While PhonePe continues to dominate the Unified Payments Interface (UPI) market, beating Google Pay for three months in a row, WhatsApp Pay's UPI market share has slowly inched up, according to . Aug 24, 2020, Updated Aug 24, 2020, 12:12 PM IST PhonePe is planning an initial public offering (IPO) by 2023. PhonePe raised a total of $700 billion in a new seed round at a post-valuation of $5.5 billion led by Walmart including participation from Flipkart's existing investors. The fresh funding would come . Flipkart announces PhonePe spin-off, digital payments company to be valued at $5.5 billion Ecommerce giant Flipkart has spun off its digital payment arm, PhonePe, into a separate entity by partially divesting its stake in favour of parent Walmart, ending discussions that had begun over a year ago. PhonePe plans to use the $50 million funding received from Chinese . December 3, 2020 0 The digital payment company PhonePe has raised Rs 5,000 crore (approx $690 million) in a fresh round of funding. Walmart-owned digital payments firm PhonePe has started gearing up for an initial public offering (IPO) by 2023 and is eyeing a valuation of $7-10 billion. Flipkart Splits PhonePe In a Separate Unit, Latter to Raise $700 Mn at $5.5 Bn Valuation The Flipkart board has taken this decision to allow PhonePe to access dedicated capital to fund its long . PhonePe is an Indian digital payment platform that was started by Sameer Nigam, Burzin Engineer, Rahul Chari in 2015 and was acquired by Flipkart later. Speaking on the development, Sameer Nigam, Founder and CEO, PhonePe, said, "Flipkart and PhonePe are already among the more prominent Indian digital platforms with over 250M users each. Title: 2020 Walmart Annual Report Created Date: 4/21/2020 4:23:06 PM . PhonePe Expands its Mutual Funds Offering by Adding 7 New Categories The new added categories include large cap funds, mid and small cap funds, diversified funds, index funds, hybrid - aggressive . Their latest funding was raised on Aug 18, 2021 from a Corporate Round round. They said PhonePe's pre-money valuation is $4.8 billion. The announcement was made by Flipkart in December 2020. Digital advertising firm Affle claims to have won the initial legal battle in a case filed against it by Walmart-owned PhonePe in a Singapore court in the Indus OS stake sale matter. PhonePe has a line of sight to becoming profitable by 2022 and will file for an IPO in 2023. December 12, 2020 Michael Patrini. Flipkart will remain PhonePe's majority shareholder, and the two businesses will retain their close . Pay bills, recharge, send money, buy gold, invest and shop at your favourite stores. The majority stakeholder of PhonePe e-commerce giant Flipkart invested 150 crore INR around 21Mn dollars. Digital payment firm PhonePe has reportedly secured USD 700 million in a new Walmart Inc.-led funding round, at USD 5.5 billion post-money valuation, in a partial spin-off from parent company Flipkart. Tencent acquired a minority stake in PhonePe as part of the company's $700 million funding round announced in December 2020. Flipkart will continue to retain its majority shareholding in the platform, with an 80 percent . PhonePe had placed a bid to acquire a 92 per cent stake in Indus OS at a valuation of around $60 million. Also read: The year that was: The biggest newsmakers of India's glamourous tech, startup ecosystem who defined 2020 Both Flipkart and PhonePe, which saw 'all-time high' monthly active users . Flipkart will continue to retain its majority shareholding in the platform, with an 80 percent . This directly speaks of the growth of the company. The $700 million fundraise from the spin-off gives PhonePe a post-money valuation of $5.5 billion. This ESOP comes soon after PhonePe was spun-off from Flipkart as a separate entity at a valuation of $5.5 billion in December 2020. Pay whenever you like, wherever you like. PhonePe raised $59600000 on 2020-02-26 in Corporate Round. PhonePe had raised USD 350 million from the three investors in an equivalent ratio in December 2020. In spite of all the excitement and confidence Sameer have, it is highly questionable that PhonePe will go forward with the IPO . PhonePe is a subsidiary of Flipkart. Flipkart hives off PhonePe, pumps in $700 million, pushes valuation to $5.5 billion The Flipkart board had cleared the move back in March 2019, but the hive-off is happening only now. [9] It is owned by Flipkart, a subsidiary of Walmart. PhonePe has raised a total of $1.7B in funding over 13 rounds. In this financing round, PhonePe is raising $700 million in primary capital at a post-money valuation of $ 5.5 billion from existing Flipkart investors led by Walmart. The money will be raised from existing Flipkart investors led by Walmart, giving PhonePe a valuation of $5.5 billion including the fundraising, the statement said. Previous funding rounds valued the company at $1.55 billion (September) and $1.03 billion (February). The company's foray into financial services is going to play a key role in the firm becoming profitable and going public. 413Kx Key Data Points Twitter Followers 5.5k Similarweb Unique Visitors 15.0K Majestic Referring Domains 314 PhonePe Investments & Acquisitions (3) The new funding round also marked the presence of existing investors. Yruma assumes a . The app is available in 11 languages with user base of 280 Million. Hogan Lovells has advised Flipkart Private Limited on the deal. Just like its parent company Flipkart, PhonePe too is working aggressively to go public by 2023 as a separate entity in the US or India, eyeing a valuation of $7 to $10 Bn. Currently, O2O contributes for less than 5% of our revenues; payment distribution will be 40% and 35% . In November, PhonePe received its fourth round of funding for 2019 from Flipkart, when it raised $82.5 million at a valuation of about $1.9 billion. Dec 3, 2020 4:01AM EST. The digital payments company — part of the Flipkart Group — is raising $700 million in primary capital at a post-money valuation of $5.5 billion from existing Flipkart investors led by Walmart.The announcement was made by Flipkart in December 2020. Currently, O2O contributes for less than 5% of our revenues; payment distribution will be 40% and 35% . Call for entries open for BuzzInContent Awards 2020 ENTER NOW. PhonePe is a subsidiary of Flipkart. Aditi Shrivastava. Walmart has infused $700 million in PhonePe at a valuation of $5.5 billion. [7] PhonePe was founded in December 2015, [3] by Sameer Nigam, Rahul Chari and Burzin Engineer. PhonePe doubles FY20 rev due to uptick in MF, insurance offerings & earnings in ad dollars The company's revenue from operations shot up to Rs 371.76 crore for the fiscal ended 31st March 2020 . PhonePe doubles FY20 rev due to uptick in MF, insurance offerings & earnings in ad dollars The company's revenue from operations shot up to Rs 371.76 crore for the fiscal ended 31st March 2020 . In terms of valuation, PayPal (NASDAQ: PYPL) is currently valued at roughly 0.16x its 2020 TPV. Their most recent acquisition was GigIndia on Mar 22, 2022. PhonePe is also using the opportunity to assert its independence from the Flipkart Group which runs a successful e-commerce business in India rivalling Amazon's local unit. India-based digital payments company PhonePe has reportedly collected $28m in a new funding round from e-commerce giant Flipkart. The announcement was made by Flipkart in December 2020. Flipkart has pumped a combined $90 million into its marketplace entity and digital payments platform PhonePe, according to regulatory filings made in Singapore. At that time, PhonePe was reported to be eyeing USD 1 billion fundraise at a valuation of USD 10 billion. Walmart now owns 10.30% whereas Tencent commands 1.80% in PhonePe. The new round gave PhonePe, which was founded by three former. PhonePe closes $700m round after raising funds from Walmart, Tencent and Tiger Global. PhonePe, the digital payments, and financial services company, has secured $350 million from new as well as existing investors as a phase of a $700 million fundraising round launched in December. Walmart-owned digital payments firm PhonePe has started gearing up for an initial public offering (IPO) by 2023 and is eyeing a valuation of $7-10 billion. Most of the circulation of money was through online money transfer. . Value with PhonePe $524 BILLION in revenue $25 BILLION in operating cash flow $11.8 BILLION in returns to shareholders. India News Startups Tech. "The Walmart leadership has told PhonePe and Flipkart about . PhonePe has acquired 3 organizations. The year 2020 saw a decline in the business and commerce due to the lockdown. These numbers also suggest that the number of transactions done on PhonePe by each user has also almost doubled - up from over six per quarter in Q2 2020, to 13 in Q2 2021. The company is currently. It is to be noted that PhonePe was spun off into a separate entity by Flipkart in December 2020, a year after the development was first reported. PhonePe was founded in December 2015. The spin-off was in the works since last year, which would reduce Flipkart's stake in PhonePe to 87% from 100%. PhonePe had raised $350 million from the trio in a similar ratio in December 2020. Figures for point-of-sale terminals are as of December 2019. An increase was observed as compared to last year where the number of peer to peer. Title: 2020 Walmart Annual Report Created Date: 4/21/2020 4:23:06 PM . The company's foray into financial services is going to play a key role in the firm becoming profitable and going public. India saw 11 startups joining the unicorn club in 2020, with fintech company  PhonePe  raising its valuation to $5.5 billion while spinning off as an independent entity from The . PhonePe is an Indian digital payment service. In March 2021, PhonePe's peer to peer transactions were 546 million. However, when the e-commerce giant officially announced PhonePe's hive-off, the payment . Data compiled March 11, 2020. The company reported its highest-ever annual revenue of Rs 245.8 crore in FY 2019, with a massive 401.3% year-over-year growth. PhonePe's fundraising, from Flipkart investors led by Walmart, will give it a valuation of $5.5 billion, the company said in a statement. According to TechCrunch, the round was led by Walmart with participation from some existing investors.The investment gave PhonePe, which was founded by three former Flipkart employees, a post-money valuation of USD 5.5 billion. The Walmart-owned digital payment company headquartered in Bangalore eyes a valuation. The report further states that the . The total valuation of PhonePe, according to a report by Morgan Stanley, hovers $7 billion. It was led by. The financing round was led by Walmart including existing Flipkart investors, a statement said. Flipkart Flipkart operates an online shopping website with a registered customer base of over 100 million. Investors Number of Investors 1 Number of Partner Investors 1 Recent News Headquartered in New Delhi, India, the company tripled its valuation to $2.85 billion and joined the unicorn club on August 4, 2021. "The Walmart leadership has told PhonePe and Flipkart about . Through the fundraising round, the valuation of PhonePe rose to $5.5 billion. In this financing round, PhonePe is raising $700 million in primary capital at a post-money valuation of $5.5 billion from existing Flipkart investors including Tiger Global, led by Walmart, the world's largest retailer, according to the industry sources. Google Pay's figure reflects more than 10 million Google Pay for Business app downloads on Android phones. The new round gave PhonePe, which was founded by three former Flipkart employees, a post-money valuation of $5.5 billion. PhonePe's fundraising, from Flipkart investors led by Walmart, will give it a valuation of $5.5 billion, the company said in a statement. This will allow PhonePe to raise resources on its own balance sheet and fuel its growth as well as IPO ambition . PhonePe has a line of sight to becoming profitable by 2022 and will file for an IPO in 2023. PhonePe seeing to go public by 2023 in the United States or India with an estimated valuation of $7 - $10 Bn. Sources: Company disclosures; Reserve Bank of India . Figures for PhonePe and Paytm were disclosed in December 2019 and February 2020, respectively. Bengaluru-based PhonePe, one of India's biggest digital payments platforms, recently bagged $700 Mn from Flipkart's US parent Walmart and other existing investors at a post-money valuation of $5.5. . Walmart-owned digital payments platform PhonePe is reportedly working aggressively to go public by 2023 as a separate entity in the US or India, eyeing a valuation of $7 to $10 Bn. Flipkart is the largest stakeholder in the company with 87.30%. Flipkart had acquired the Bangalore-based FinTech in 2016 and the new partial spinout will reduce its ownership from 100% to 87%. Flipkart hives off PhonePe, pumps in $700 million, pushes valuation to $5.5 billion The Flipkart board had cleared the move back in March 2019, but the hive-off is happening only now. In 2016, Flipkart acquired PhonePe. The new financing round is a "partial spin-off" of the payments company. PhonePe Signals Growth Rate 0.80% Weekly Growth Weekly Growth 0.80%, 93rd %ile -35.5%. 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