Get the latest tech news
Flipkart co-founder Binny Bansal leaves PhonePe’s board
Flipkart co-founder Binny Bansal has stepped down from PhonePe's board of directors, three quarters after making a similar move at the e-commerce giant. Binny Bansal, who undertook the acquisition of PhonePe by Flipkart in 2016, also left Flipkart's board this year.
Bengaluru-headquartered PhonePe said it had appointed Manish Sabharwal, an executive at staffing and HR firm Teamlease, as an independent director and audit committee chair. Bansal played a key role in Flipkart’s acquisition of PhonePe in 2016 and sat on the fintech’s board ever since. The Walmart-backed startup, which operates the top mobile payments app in India, branched out of Flipkart in 2022 and was valued at $12 billion in funding rounds that netted about $850 million last year.
Or read this on TechCrunch