The Noida and San Francisco-based startup will be valued at close to $300 million in the new round of funding, sources said.
Silicon Valley veteran talks about India’s startup scene, tech regulation, and AI opportunities.
PhonePe, which recently crossed 3-billion-transactions landmark on its platform, is believed to be looking at a valuation in the range of $8 -12 billion.
This debt of Rs 3,537 crore is over the Rs 6,547 crore Coffee Day Enterprises had.
Till the day before he disappeared, Siddhartha was trying to get a loan of Rs 1,600 cr to avert the crisis.
WhatsApp is bullish on prospects in India as it revealed that it has 400 million monthly active users here out of a global base of 1.5 billion.
The company is in talks with Tencent, existing backer SoftBank for a 21% stake.
The transaction involves a complete exit by SAIF Partners, which holds 5.6% stake, and a partial exit by Accel India, said sources, adding that employees are likely to get liquidity with this deal.
The move will give the company “sharper focus” and “better alignment” besides “improve competitiveness”, according to the filing.
This comes at a time when Oyo has been looking to raise a new round at a valuation of over $10 billion.
- No blogs yet have been written by the author, we’re sure the author will contribute one soon