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Inc42
| 25dPhonePe Channelled Majority Of Past Year’s Investment Into Insurance Vertical
Walmart-owned fintech company PhonePe has invested over INR 800 Cr ($108 million) in its subsidiaries over the past year to expand into insurance broking, wealth management, and hyperlocal ecommerce. The company allocated INR 426 Cr ($57.66 million) to its insurance broking service and INR 287 Cr ($38.89 million) to its wealth broking app. PhonePe has also invested INR 90 Cr ($12.18 million) in Pincode Shopping Solutions, the company behind the ecommerce app Pincode. The investments highlight PhonePe's focus on diversifying its services and expanding its presence in different sectors.
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