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Flipkart co-founder leaves PhonePe board
Binny Bansal, co-founder of Flipkart, has resigned from the board of directors of PhonePe, a fintech company headquartered in Bengaluru, India.
This follows his earlier departure from Flipkart’s board three quarters ago.
PhonePe has appointed Manish Sabharwal as an independent director and chair of the audit committee.
Sabharwal is currently an executive at staffing company Teamlease.
Bansal played a significant role when Flipkart acquired PhonePe in 2016. Since then, he has served on the fintech’s board.
In 2022, PhonePe separated from Flipkart, achieving a valuation of US$12 billion after raising approximately US$850 million.
Recent PhonePe developments
| Timeline |
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30-Aug-2023 📈 India’s PhonePe enters stock broking with new platform
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17-Mar-2023 📈 PhonePe secures $200m from Walmart to develop new businesses
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14-Feb-2023 💰 PhonePe raises another $100m round at $12b valuation
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15-Dec-2020 💰 PhonePe receives $20m from Flipkart, filings show
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