IndusLaw has represented fintech startup PhonePe, which received an additional USD100 million in funding from General Atlantic, raising the global private equity firm’s investment to USD550 million.
Partners Saurav Kumar and Rohit Ambast led the IndusLaw team, with assistance from principal associate Swathi Sreenath, senior associate Saurabh Raman and associate Shreya Chaturvedi.
Shardul Amarchand Mangaldas & Co represented General Atlantic in this deal.
General Atlantic’s latest infusion of funds brings the total primary capital raised by PhonePe to USD850 million. This tranche of fundraising is a part of PhonePe’s push to secure USD1 billion in capital, after moving its headquarters to India last year.
In January, General Atlantic had invested USD350 million in the fintech startup and in May, PhonePe secured USD200 million from parent company Walmart.
