https://techcrunch.com/2023/03/16/walmart-invests-200-million-in-indian-mobile-payments-giant-phonepe/ > PhonePe has raised another $200 million as part of an ongoing round, a deliberation that has now helped it pull $650 million in recent weeks despite the market slump, as the Indian fintech giant bulks up its war chest following the recent separation from the parent firm Flipkart. > Walmart, which owns the majority of PhonePe, has invested $200 million into the startup. The ongoing round values the Bengaluru-headquartered PhonePe at a pre-money valuation of $12 billion. PhonePe has previously said that it plans to raise up to $1 billion as part of the ongoing financing round.