Flipkart / PhonePe 2020
Flipkart acquired PhonePe on December 3, 2020.
- Target
- PhonePe
- Acquirer
- Flipkart
- Announced
- December 3, 2020
- Sub-sector
- Payments
Transaction overview
- Flipkart announced the acquisition of PhonePe on December 3, 2020.
- The deal is expected to close pending customary conditions.
Strategic rationale
Spin-off gives PhonePe operational autonomy, dedicated capital access, and ability to create employee equity incentives while Flipkart retains majority control.
Deal terms & multiples
Frequently asked questions
When did Flipkart announce the acquisition of PhonePe?
Flipkart announced the acquisition of PhonePe on December 3, 2020.
What sub-sector is PhonePe in?
PhonePe is tracked in the Payments sub-sector.
Sources
- yourstory.com /2020/12/flipkart-co-founder-binny-bansal-joins-phonepe-fintech