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Walmart-Backed Fintech PhonePe’s Operating Revenue Jumps 74%

India’s PhonePe, a digital-payments startup that is backed by retail giant Walmart Inc., said its revenue surged and its loss narrowed in its latest fiscal year.The Bengaluru-based financial-technology giant reported a 74% year-over-year jump in revenue from operations, which reached 50.64 billion rupees ($602 million). Meanwhile, its net loss dropped by 28% to 19.96 billion rupees, according to the company’s annual report published on its website on Monday....

Read more at bloomberg.com

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