PhonePe investing $200 million on building data centres
NEW DELHI: Walmart-owned payment services provider PhonePe on Thursday said it is investing USD 200 million (around Rs 1,661 crore) on building data centres in the country, a top official said on Thursday. The investments are driven by the regulatory insistence on data localisation, which prevents a financial sector entity from storing its data overseas, […]
Flipkart announces PhonePe spin-off, to retain majority stake
BENGALURU: E-commerce marketplace Flipkart on Thursday announced a partial spin-off of digital payments platform PhonePe in a bid to help it access dedicated, long-term capital to fund its growth ambitions over the next three to four years. Flipkart said that PhonePe is raising $700 million in primary capital at a post-money valuation of $5.5 billion […]