India: Flipkart injects $28m in its payments arm PhonePe

India: Flipkart injects $28m in its payments arm PhonePe

FILE PHOTO: The logo of Flipkart is seen on the company's office in Bengaluru, India, May 9, 2018. REUTERS/Abhishek N. Chinnappa/File photo

PhonePe’s Singapore entity PhonePe Pte Ltd has received a fund infusion of $28 million from parent Flipkart last week, according to the regulatory filings accessed by Mint. This is the first round of funding which the company has raised this financial year.