The infusion comes as PhonePe has been looking to raise funds to enter the payments industry in India. According to Inc42, Walmart will continue to invest in PhonePe, with a total fund infusion now standing at USD 928 million. PhonePe Singapore is a fully-owned online payments subsidiary of Flipkart Internet, the company’s Singapore-based entity, and it received the funds on 21 April 2020, according to the regulatory filings.
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