Flipkart partially spins off PhonePe, Binny Bansal to join board of fintech co

E-commerce major Flipkart on Thursday announced a “partial spin-off” of PhonePe as the digital payment firm raises USD 700 million in funding, valuing it at USD 5.5 billion.E-commerce major Flipkart on Thursday announced a “partial spin-off” of PhonePe as the digital payment firm raises USD 700 million in funding, valuing it at USD 5.5 billion.