PhonePe

Sources: Walmart-backed PhonePe targets a $9B to $10.5B valuation in its Indian IPO; PhonePe raised $600M from General Atlantic at a $14.5B valuation in October

Walmart's PhonePe raised $600M from General Atlantic at a $14.5B valuation, as the Indian digital payments and financial services company prepares for an IPO

The Economic Times :

Flipkart consolidates its various fintech offerings, including UPI and BNPL, under Flipkart Pay; the move follows recent expansions and a spinoff of PhonePe

The Economic Times :

Filing: Walmart spent $3.5B in H1 2023 to fix PhonePe shareholder liabilities and buy Flipkart shares from Tiger Global and others, growing its stake to ~80%

Filing: Walmart spent $3.5B in H1 2023 to fix PhonePe shareholder liabilities and buy Flipkart shares from Tiger Global and others, growing its stake to ~80%

Walmart has spent $3.5 billion this year to acquire shares from certain Flipkart stakeholders and resolve liabilities …

Walmart-backed Indian fintech company PhonePe raised $350M from General Atlantic at a $12B+ valuation, with plans to raise as much as $1B in tranches

Nikhil Patwardhan / Moneycontrol :

Flipkart no longer owns a stake in PhonePe, the two companies say; source: PhonePe is in talks to raise $1.5B at a pre-money valuation of $12B

Manish Singh / TechCrunch :

PhonePe is partially spinning off, reducing Flipkart's stake from 100% to 87%, and raises $700M led by Walmart at a post-money valuation of $5.5B

PhonePe, the crown jewel in Flipkart's acquisition by Walmart, is “partially” spinning off, the financial services firm said on Thursday.

Walmart's Flipkart has invested ~$200M into its digital payments subsidiary PhonePe since March, as it reportedly plans to spin PhonePe off at a ~$10B valuation

Pramugdha Mamgain / DealStreetAsia :