PhonePe gets ₹254 crore funding from Singapore-based Flipkart Payments
As per the MCA filings, the company raised money by allocation of 1.76 million equity shares at a subscription price of ₹1,445.29 apiece.
As per the MCA filings, the company raised money by allocation of 1.76 million equity shares at a subscription price of ₹1,445.29 apiece.
The funding will help to develop brand, scale up current infrastructure and enhance products.
The funding comes from Startup Buddy, along with angel investors Apurva Chamaria, Sachin Arora, and Bharat Gupta, among others.
The raised capital will be used to add a wide range of fraud verification services and risk assessment means, along with further improving AI-based algorithms.
Ramesh Srinivasan has 22 years of experience in the Banking & Financial Services Industry (BFSI), and was earlier the Financial Advisor at Hitachi Payment Services.
US-based Ribbit Capital has invested in Capital Float's Series C funding round, worth Rs 293 crore. Existing investors SAIF Partners and Sequoia Capital have also participated.
Fin-tech firm KNAB Finance Advisors has raised over ₹2.5 crore in two funding rounds from InCred and a clutch of individual investors. It provides unsecured working capital loans to SMEs.
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