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PhonePe raises $350m, now one of India's most valuable fintechs

Private equity firm General Atlantic leads fresh round of funding

CHENNAI -- Walmart-backed financial technology company PhonePe on Thursday said it has raised $350 million in a fresh round of funding led by private equity firm General Atlantic that values the startup at $12 billion. The round has made PhonePe one of India's most valuable fintech companies.

PhonePe's last round of funding was held in November 2022, when it raised $90 million and was valued at $5.5 billion.

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