Phonepe was acquired by Flipkart in 2016.
Later
In Dec 2022, PhonePe separated from Flipkart, but both companies are still owned by Walmart.
So, why need another UPI app?
PhonePe IPO Is Coming!
• PhonePe is planning an IPO to raise capital at a valuation of $8-10 billion.
• In 2023, PhonePe raised $200 million from Walmart at a pre-money valuation of $12 billion.
• PhonePe dominates the UPI payments business with a
A few days ago, Flipkart introduced its new UPI service, Supermoney.
⏮️The interesting part: Let's go back a few years -
Dec, 2015: 3 former Flipkart exec's start PhonePe.
Apr, 2016: Flipkart acquires PhonePe for $20 M.
Aug, 2018: Walmart acquires
