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Phonepe Gets $50 Million From Tencent But Won'T Use It In India

Aug 19, 2021•almost 4 years ago

Amount Raised

$50 Million

Delhi

Description

New Delhi: The Singapore unit of PhonePe has raised $66.5 million (about Rs 500 crore) in a funding round led by Chinese tech company Tencent Holdings Ltd. along with participation of New York-based investor Tiger Global.

Company Information

Company

Phone Pe

Location

Delhi, Delhi, India

About

PhonePe is a Digital Wallet & Online Payment App that allows you to make instant Money Transfers with UPI. Recharge Mobile, DTH, Pay Utility Bills, Buy/Invest in Gold, Mutual Funds, Insurance & much more.

Funding Insights

Based on industry data
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech