Tencent is in talks to participate in a $1bn round that would enable the mobile payment platform to spinoff from parent company Flipkart at a valuation of up to $8bn.
PhonePe, the India-based mobile payment technology developer owned by online marketplace operator Flipkart, is looking to raise up to $1bn in funding from investors including internet group Tencent, the Economic Times reported on Monday.
Hedge fund manager Tiger Global Management and unnamed other investors are also in talks to make commitments to the round, three people aware of the development told ET. One of the sources said PhonePe will not complete the funding process if investors value it lower than…
