Phonepe Receives Rs 743.5 Cr In Fresh Funding

Ropes in Aamir Khan as Brand Ambassador

With Bollywood actor Aamir Khan as its brand ambassador, PhonePe is looking to increase awareness about the benefits of digital payments for users across India.
PhonePe, the payments and financial services arm of ecommerce major Flipkart, has received Rs 743.5 crore as part of a fresh infusion of funds from its Singapore-registered parent entity, PhonePe Pvt Ltd (formerly known as Flipkart Payments), according to the filings with the Registrar of Companies (ROC).

Media reports suggest that this funding has come from Walmart.  

Last month, PhonePe had announced its partnership with Walmart India to launch PhonePe as a payment option at Walmart India’s 23 Best Price Modern Wholesale ‘B2B Cash & Carry’ stores.
The partnership was aimed to allow registered members of Walmart India’s ‘Best Price’ stores to leverage different payment options on the PhonePe app, including Unified Payments Interface (UPI), PhonePe wallet, third-party wallet, credit, and debit cards.