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PhonePe likely to raise $1 Bn funding at $7-8 Bn valuation

PhonePe is in talks to raise around $1 billion from investors like Tencent and Tiger Global. The company is planning to increase its valuation to at least $7-8 billion and nothing below.

The result of the talks depends on the valuation of the company at which these investors want to invest. It could take another 2-3 months for the investments to close formally. If the deal goes through, this will be the largest fundraise for PhonePe. (Source)

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