Leading Indian UPI digital payments app, controlled by Walmart.
Around 17,121 people on the team.
PhonePe, a leading Indian UPI digital payments app controlled by Walmart, has raised $2571M across 8 rounds and is backed by General Atlantic, Walmart, Tiger Global, Ribbit Capital, and Flipkart. Through shared capital it connects to a cluster of fintech and payments companies, sharing two investors each with BharatPe, CRED, Razorpay, Spendesk, and Brex (plus NoBroker), placing it alongside both Indian and global fintech peers. With a network centrality score of 56 and a team of 17121 concentrated in Bengaluru (80%) and Mumbai (5%), it sits as a well-funded node within the broader payments and fintech financing network.
| Date | Round | Amount |
|---|---|---|
| Mar 2026 | Incoming IPO PhonePe is targeting a $9-10.5B valuation in its India IPO, expecting to raise around $1B; Walmart, Microsoft and Tiger Global will sell stakes. | — |
| Oct 2025 | Funding round General Atlantic invested $600M in PhonePe via a secondary transaction (stake rising from 4.4% to about 9%) to facilitate the exercise of employee stock options ahead of the IPO. | $600M |
| May 2023 | Growth General Atlantic invested another $100M in PhonePe as part of its ongoing round, which has reached $850M at a $12B valuation. | $100M |
| May 2023 | Series D Plus Fintech decacorn PhonePe raised $850M in 2023 (latest $100M tranche from General Atlantic) as part of a $1B round. | $850M |
| Mar 2023 | Growth PhonePe raised $200M from Walmart as part of an ongoing round, valuing the Indian payments giant at $12B pre-money. | $200M |
| Feb 2023 | Growth Indian fintech PhonePe raised another $100M from Ribbit Capital, Tiger Global and TVS Capital at a $12B pre-money valuation. | $100M |
| Jan 2023 | Series D Plus PhonePe, an Indian payments giant, raised USD350M from General Atlantic at a USD12B+ valuation, entering the decacorn club. | $350M |
| Jan 2023 | Growth PhonePe raised $350M led by General Atlantic at a $12B pre-money valuation as part of an ongoing round. | $350M |
| Dec 2020 | Growth PhonePe raised $21 Mn from parent Flipkart. | $21M |
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PhonePe has acquired GigIndia · WealthDesk.
Data is community-curated and may be incomplete.