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PhonePe is an Indian digital payments and financial services company [5] headquartered in Bengaluru, Karnataka, India. [6] [7] PhonePe was founded in December 2015, [2] by Sameer Nigam, Rahul Chari and Burzin Engineer. [8] The PhonePe app, based on the Unified Payments Interface , went live in August 2016. [9]
A native Android-based mobile app store, designed to fulfill the localized and cultural needs of Indian consumers and provides developers a level playing field to list, distribute & promote their products in the Indian app ecosystem.
- PhonePe - About
- PhonePe - Industry
- PhonePe - Startup Story
- PhonePe - Mission and Vision
- PhonePe - Name, Tagline, and Logo
- PhonePe - Business Model
- PhonePe - Revenue Model
- PhonePe - Growth and Revenue
- PhonePe - Challenges Faced
- PhonePe - Funding and Investors
PhonePe, founded in December 2015, is a renowned digital payments company that supports over 11 languages. It is among the first payment apps built on the Unified Payments Interface (UPI)and holds the distinction of being the first UPI payments app to surpass the billion-transaction milestone. The app offers a wide range of services, allowing users...
In the vibrant and rapidly evolving Digital Payments market of India, the total transaction value is anticipated to reach $180.40 billion in 2023, with a projected annual growth rate of 15.56% (CAGR 2023–2027), culminating in a projected total of $321.70 billion by 2027. PhonePe, along with Google Pay and Paytm, emerged as the dominant players, col...
PhonePe was founded in 2015 by Sameer Nigam, Rahul Chari, and Burzin Engineer, who were ex-Flipkart employees. With a vision of simplifying transactions and making financial services accessible to all, they founded PhonePe. In 2016, PhonePe took a significant leap forward when it caught the attention of Flipkart, one of India's leading eCommerce gi...
PhonePe's missionis to offer every Indian an equal opportunity to accelerate their progress by unlocking the flow of money and access to services. The vision statement of PhonePeis, "Our Vision is to build India’s largest transaction platform anchored on payments. A scalable ecosystem that creates maximum positive impact for all stakeholders".
The name of PhonePe sounds quite similar to its peers, Google Pay, Amazon Pay, and more because it is essentially a payments app. However, PhonePe has an interesting take on the word "pay" by using "Pe" in its name. This evokes the Hindi connotation of the term, aligning with its operation on mobile phones. The brand chose the color purple as its p...
PhonePe operates on a combined B2B and B2C business modelin the digital payments and financial services sectors. Consumer Side:On the consumer side, PhonePe offers a digital payment platform that allows users to make seamless transactions using their smartphones. Users can link their bank accounts, debit cards, and credit cards to the PhonePe app, ...
PhonePe operates on a revenue modelthat encompasses various streams of income. Transaction Fees: PhonePe generates revenue by charging transaction fees or commissions on each transaction made through its platform. This includes fees on UPI payments, bill payments, recharges, and other financial transactions processed through the app. Merchant Servi...
PhonePe, founded in December 2015, was acquired by Flipkart in 2016 for about $20 million. Since then, the company has experienced remarkable growth, reaching a valuation of over $12 billion in 2023. PhonePe became the first UPI-based app to surpass 10 million downloads in 2017 and has consistently ranked among the top finance apps in major app sto...
Starting up was indeed a big challenge for PhonePe because the industry was quite new and rather unexplored. However, the PhonePe acquisition by Flipkart settled things.
PhonePe has raised over $2.6 billion in funding across 18 rounds as of May 2023. The ongoing financing round has propelled Walmart-backed PhonePe's valuation to $12 billion, with investments from notable investors including General Atlantic. Here is a detailed list of PhonePe funding and investors below:
- 2015
- Bengaluru, Karnataka, India
- Sameer Nigam, Burzin Engineer, Rahul Chari
- Fintech
Feb 10, 2023 · PhonePe is an Indian digital payments company founded in 2015 and acquired by Flipkart. It launched its app in 2016 based on Unified Payments Interface (UPI). PhonePe quickly grew, surpassing 100 million downloads within 3 months and becoming the leading UPI transaction platform in India.
Jul 2, 2023 · PhonePe, an Indian UPI-based app, has simplified the lives of millions of Indians. Founded in December 2015, PhonePe was acquired by Flipkart and its parent company Walmart a year later. This acquisition marked a turning point for PhonePe, leading to significant growth and expansion.
- PhonePe
- Singapore
- December 2015
Dec 23, 2022 · The PhonePe Group was acquired by the Flipkart Group in 2016 and today is India’s largest digital payments platform. The company builds products and offerings tailored to the Indian market, and with over 400 million registered users, more than one in four Indians are now using PhonePe.
May 28, 2023 · PhonePe, an Indian UPI-based app founded in December 2015, experienced significant growth and expansion after being acquired by Flipkart and its parent company Walmart in the following year.
