phonepe funding

If you missed our must-read stories this week, here are the top reads to get you up to speed. Coming from the most plugged reporters covering the tech and startup ecosystem, the ETtech team helps you understand the significance of these developments.Subscribe to our daily newsletters ETtech Morning Dispatch and ETtech Top 5 for more in-depth coverage you won’t find anywhere else. 1. Building India's Shein: why investors are backing a new wave of fashion ecommerce startups | A clutch of online fashion retailers targeting…

Hi, this is Pranav Mukul in New Delhi. Earlier this week, I went into the bylanes and back alleys of the national capital city and adjoining catchments like Gurgaon and Noida, where Zomato-owned quick-commerce platform Blinkit’s otherwise nondescript dark stores are located.From Tuesday onwards, more than 100 of these stores in the Delhi-NCR region, which serve as mini warehouses, became the centre of attention as hundreds of Blinkit’s delivery workers gathered outside these shuttered stores protesting a reduction in…

Happy Friday. After its hive-off from Flipkart, digital payments firm PhonePe's fundraising continues. Today, the company said it has added another $200 million from its parent Walmart as part of its ongoing funding round. This and more in today's ETtech Top 5.Also in this letter:■ Transition at TCS won't be dramatic: incoming CEO■ ChatGPT Plus launched in India■ ETtech Deals Digest: Lenskart, PhonePe funding rounds prop up funding Walmart invests another $200 million in PhonePe PhonePe cofounders Sameer Nigam and…

Earlier this week, PhonePe founder and chief executive officer Sameer Nigam said the investors of the fintech firm had to pay Rs 8,000 crore in taxes to the Indian government after it shifted its domicile from Singapore to India in October last year. The change in domicile was a part of a larger restructuring process that saw the existing shareholders in Flipkart Singapore and PhonePe Singapore, led by Walmart, purchased shares directly in PhonePe India bringing to a close a three-year-old process that began in 2019.In…

The Indian startup ecosystem, which is in the midst of a funding winter, saw an uptick in investments this week, with a total of $565 million raised in 20 rounds, according to data provided by market intelligence platform Tracxn.Walmart-owned payment platform PhonePe, which raised $350 million in funding from General Atlantic, accounted for the lion's share of this. The $350 million it raised comprises the first tranche of an up to $1 billion investment that started this month. Other global and Indian investors are also…