In FY24, the payments firm revenue increased 73 percent to Rs 5,064 crore
If PhonePe’s massive round goes through, it will make the startup India’s most valued fintech, amid a rout in startup funding
The investments are driven by the regulatory insistence on data localisation, which prevents a financial sector entity from storing its data overseas, and other aspects, company's co-founder and chief technology officer Rahul Chari said.
Named Mumbai Meteors, the team is the eighth franchise in the Prime Volleyball League, which has RuPay as the prime sponsor
PhonePe, India's largest player when it comes to digital payments, was founded in December 2015. It has had a very different journey compared to rivals who raised big VC money. Instead it chose to work as an independent unit backed by Flipkart, and now Walmart. Today, PhonePe has more than 360 million registered users, with one in four Indians now using it. It has digitised over 27 million offline merchants spread across Tier II, III, and IV cities and beyond. In this episode of Bits to Billions, PhonePe founders Sameer Nigam and Rahul Chari spoke to Moneycontrol's Chandra R Srikanth on the PhonePe culture, why they will only list in India, why they have never fired an employee and the road ahead as they look to become a financial services super app.
According to Nigam, the fintech sector doesn't allow overworking and requires a stable approach.
PhonePe, co-founded by Sameer Nigam and Rahul Chari, is building India's first Unified Payments Interface (UPI) based product.