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Walmart-backed PhonePe seeks to raise $1 bln

Indian digital payments firm PhonePe is seeking to raise up to $1 billion from General Atlantic, Tiger Global Management, Qatar Investment Authority and Microsoft Corp, news reported on Thursday, citing sources.

The all-equity round is expected to close in the next two weeks and may take Walmart-backed PhonePe’s valuation close to $13 billion, according to the report.

PhonePe declined to comment while Walmart, General Atlantic, Tiger Global, Qatar Investment Authority and Microsoft did not immediately respond to Reuters’ requests for comment. Reuters

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