PhonePe has agreed to raise USD 100 million from Ribbit Capital, Tiger Global and TVS Capital Funds at a pre-money valuation of USD 12 billion [1]. This new investment would follow the recent USD 350 million primary fundraise that had closed in January 2023.

Our Firm advised PhonePe and Ribbit Capital.

Deal value- USD 100 million


For PhonePe – Saurav Kumar (Partner), Rohit Ambast (Partner), Swathi Sreenath (Principal Associate), Saurabh Raman (Associate) and Shreya Chaturvedi (Associate).

For Ribbit Capital – Winnie Shekhar (Partner), Rajat Jain (Senior Associate) and Aditya Kumar (Associate).

Other law firms involved-

  • Khaitan & Co. (led by Vivek Sriram (Partner) and team) represented TVS Capital Funds.
  • Gunderson Dettmer (led by Steven L. Baglio (Partner) and team) represented Tiger Global.

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