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As per the documents, filed with the Corporate Affairs Ministry, digital payments arm,PhonePe of Flipkart has raised over Rs.254 crore from Singapore based Flipkart Payments.
According to the documents, Flipkart Payments has been allotted 17.60 lakh shares of face value of Rs 10 per share, at a higher premium of Rs.1,435 each, which aggregates to Rs.254.43 cr on right basis.
PhonePe,can strengthen its position with this new round of funding at a time, when digital transactions are becoming popular mode of payment.
