PhonePe raises $350 mn from General Atlantic; now bigger than Swiggy, Paytm

Payments and financial services unicorn PhonePe has raised $350 million in funding from General Atlantic — a leading global growth equity firm — at a pre-money valuation of $12 billion, making the Walmart-owned start-up the most-valued financial technology (fintech) player in India.   The investment is the first tranche of the company’s latest fundraise that … Read more

Paytm cut marketing spend more than the competition: Bernstein report

Paytm, whose initial public offering is expected later this year, has cut down its marketing spend as it focuses on building revenue, and competes with PhonePe and Google Pay in the super application (app) space, according to a Bernstein report.   “Within the UPI (unified payments interface) super-apps, PhonePe leads the pack on overall UPI … Read more