Walmart's Flipkart Planning To Spin Out Mobile Payments Arm PhonePe
PYMNTS
DECEMBER 3, 2020
Post-spin-off, PhonePe will institute a new board of directors to facilitate growth and launch a custom equity incentive, or ESOP, program for its employees. In October, the digital payments startup processed $1 billion in transactions. Flipkart will retain a majority stake in PhonePe, and the $700 million fundraise at a $5.5
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