phonepe, Goodbye to Singapore.. Hello to India PhonePe.. Important information released!! – Phonepe plans to move its headquarters from Singapore to India says report

Walmart Group’s digital payments company PhonePe plans to shift its headquarters from Singapore to India, according to sources.

Flipkart, the company’s largest shareholder, will continue to be headquartered in Singapore and is said to have no plans to relocate.

Notably, Flipkart partially spun off the PhonePe businesses in December 2020 to fund its long-term ambitions over the next three to four years and raise its capital.

Regarding the news, a PhonePe spokesperson confirmed the news saying, “We are in the process of moving our registered company from Singapore to India.”

It is also said that e-commerce company Flipkart will continue to be the largest shareholder of PhonePe. And PhonePe has 250 million users. Reports also say that its monthly average transaction is crossing 100 million.