PhonePe

PhonePe is a mobile payments app that allows you to transfer money instantly to anyone, by using just their mobile number.

PhonePe's goal is to make digital payments so easy, safe & universally accepted that people never feel the need to carry cash or cards again.

PhonePe was founded in December 2015, by Sameer Nigam, Rahul Chari and Burzin Engineer. The company is headquartered in Bangalore, Karnataka, India.

 

The PhonePe app, based on the Unified Payments Interface (UPI), The PhonePe app is available in over 11 Indian languages. Using PhonePe, users can send and receive money, recharge mobile, DTH, data cards, make utility payments, pay at shops, invest in tax saving funds, liquid Funds, buy insurance and mutual funds and gold.

 

PhonePe is accepted as a payment option at offline and online merchant outlets across 400 cities in India covering food, travel, groceries, medicines, movie tickets etc. The company launched the PhonePe ATM in January 2020. The PhonePe ATM allows neighbourhood Kirana stores to dispense cash in real-time to customers.

 

PhonePe has more than 400 million registered users and more than 35 million offline merchants rely on the platform.

 

PhonePe is backed by Walmart, Flipkart, Tiger Global Management, Tencent, General Atlantic, and others. The company raised $350M in a new round on Jan 19, 2023. This brings PhonePe’s total funding to $2.05B to date. The latest round more than doubled the company's valuation to over $12B, from its previous $5.5B in a financing raised in Dec 2020.

 

 

  • Year founded: 2015
  • Funding Info: $2.05B over 13 Rounds (Latest Funding Type: Venture- Series Unknown)
  • Yearly Revenue: $400M (FY- 2022)
  • Employee Size: 1,001-5,000
  • Business Valuation: Valued at over $12B as of Jan 19, 2023
  • City/Town: Bangalore
  • State: Karnataka
  • Country: India
Related businesses