Fortune India 500 2025 edition
Rank#330- Total income
- ₹7,659 Cr
- Profit
- ₹-1,727 Cr
About PhonePe
PhonePe is a Financial Services company based in Bengaluru (India) founded in 2012 by Rahul Chari, Sameer Nigam, and Burzin Engineer, and was acquired by Flipkart in June 2015. It operates as a payment, financial, investment, and lending services are provided digitally. PhonePe has raised $1.71 billion across 4 funding rounds from investors including Flipkart, Microsoft and Tencent. The company has 12,265 employees. PhonePe has completed 8 acquisitions, including App Bazaar, GigIndia and Indus OS. PhonePe was last valued at $14.5 billion in October 2025. Its chief executive is Sameer Nigam. Its website phonepe.com draws about 11.9 million monthly visits. Its Indian entity Phonepe Limited reported revenue of ₹8,388 Cr. PhonePe offers products and services including Payment Gateway, Insurance Products, and Investment Platform. Its focus areas include FinTech, Payments, Consumer Payments and Wallets. Its competitors include Paytm, MobiKwik, FreeCharge, MoneyGram and One97 Communications and 3 more; 6 of its 8 listed competitors have raised funding.
Company details
Founded in 2012 and based in Bengaluru, India, PhonePe operates within the fintech sector. Online and offline payment solutions are facilitated for businesses and consumers through gateways and links. Merchant lending options are extended alongside consumer lending. Insurance products, investment avenues, and digital gold services are made available to users across the region.
PhonePe is ranked #330 on the Fortune India 500 (2025).
Recognitions & Rankings of PhonePe
- Headquarters Bengaluru, India
- Employees 12,265
- Founders Rahul Chari, Sameer Nigam, Burzin Engineer
- Stage Acquired
- SectorsFinancial Services
- Email••••••••
- Phone•••• ••••
- Website phonepe.com
- Social LinkedIn X Facebook YouTube
- Acquired by Flipkart (Jun 2015)
- Legal Name Phonepe Private Limited
- Date of Incorporation 18 Dec, 2012
- Jurisdiction Bangalore, Karnataka, India
Operational Areas
Key Metrics
- Annual Revenue₹8,388 Cr
FY 2026 · +10% YoY
- Net Loss-₹2,792 Cr
FY 2026 · -33% margin
- EBITDA-₹1,245 Cr
FY 2026 · -15% margin
- Total Equity Funding$1.71B (USD)
in 4 rounds
- Latest Funding Round$658.08M (USD), Series D
Jan 2023
- InvestorsFlipkart
& 19 more
- Employee Count12,265
- Investments & AcquisitionsApp Bazaar
& 7 more
- Acquired byFlipkart
(Jun 2015)
Associated legal entities of PhonePe
PhonePe is associated with 10 registered companies on The Company Check; the primary company is Phonepe Limited. Each company page carries the filings, financials, charges and directors of that entity.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2026) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Phonepe Limited CIN U67190KA2012PLC176031 | Active | 18 Dec 2012 | Bangalore, Karnataka | ₹8,388 Cr | 7,645 | 12 | View details |
| Meteor Sports Llp CIN ABC-4574 | Active | 19 Sep 2022 | Bangalore, Karnataka | – | – | 2 | View details |
| Phonepe Wealth Private Limited CIN U65990KA2018PTC118559 | Dissolved Under Section 59(8) | 15 Nov 2018 | Bengaluru, Karnataka | – | 16 | 3 | View details |
| Phonepe Finance Private Limited CIN U63119KA2021PTC151118 | Active | 27 Aug 2021 | Bangalore, Karnataka, India | – | – | – | View details |
| Phonepe Wealth Broking Private Limited CIN U65990KA2021PTC146954 | Active | 27 Apr 2021 | Bangalore, Karnataka | ₹24.4 Cr | 154 | 8 | View details |
| Phonepe Insurance Broking Services Private Limited CIN U66000KA2020PTC132814 | Active | 19 Feb 2020 | Bengaluru, Karnataka | ₹193 Cr | 243 | 6 | View details |
| Phonepe Payment Technology Services Private Limited CIN U72100KA2021PTC147100 | Active | 03 May 2021 | Bangalore, Karnataka, India | – | – | – | View details |
| Phonepe Technology Services Private Limited CIN U65999KA2019PTC174321 | Active | 27 Sep 2019 | Bangalore, Karnataka, India | – | – | – | View details |
| Wealth Technology & Services Private Limited CIN U74999KA2016PTC173993 | Amalgamated | 01 Jun 2016 | Bangalore, Karnataka, India | – | – | – | View details |
| Phonepe Finance Private Limited CIN U64990KA2021PTC151118 | Active | 27 Aug 2021 | Bangalore, Karnataka | ₹0.7 Cr | 541 | 7 | View details |
Products & Services of PhonePe
PhonePe offers a comprehensive portfolio of products and services, including Payment Gateway, Insurance Products, and Investment Platform.
Payment Gateway
Payment Processing
Service for accepting online and offline payments securely.
Insurance Products
Financial Services
Offers health and life insurance options for consumers.
Investment Platform
Wealth Management
Enables investment in gold, funds, and equities digitally.
Apps and channels of PhonePe
PhonePe publishes 1 mobile app with over 500M+ downloads; its YouTube channel PhonePe has 253K subscribers and 30 videos.
PhonePe
Open channelVideos from PhonePe
The most watched videos on PhonePe's YouTube channel, PhonePe (253K subscribers). Click a video to play it here.
Maan-na mushkil, bharna aasaan - pay Health Insurance premium Monthly!
Health Insurance premium hua annual se monthly – Sachhi mein!
You heard us wright! - Ab bharo annual Health Insurance month on month | PhonePe
Say no to pin for small payments | UPI Lite on PhonePe
More on PhonePe.
Funding Insights of PhonePe
PhonePe has successfully raised a total of $1.71B across 4 strategic funding rounds. The most recent funding activity was a Series D round of $658.08 million completed in January 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $1.71B
- Total Rounds 4
- Last Round Series D — $658.08M
- First Round $62,726
(Aug 2014)
- Investors Count 20
All 4 funding rounds of PhonePe with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jan 2023 | $658.08M | Series D | $12.6B | General Atlantic | |
| Aug 2021 | $350M | Series D | – | Walmart | |
| Dec 2020 | $700M | Series D | – | Walmart | – |
| Aug 2014 | $62,726 | Angel Round | $835,226 | Suresh Kumar, Saurabh Singla | – |
Valuation history
| Date | Valuation | Stage |
|---|---|---|
| Jan 2023 | $12.6B | •••••••• |
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Full valuation and stage history of PhonePe
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Last known valuation $14.5B (Oct 2025). 20 investors in total: 14 institutional and 6 angel.
Investors in PhonePe
PhonePe has secured backing from 20 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Flipkart, Microsoft and Tencent.
All
Venture Fund
Institutional
Angel
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Private equity fund focused on global markets | 1980 | generalatlantic.com | New York, United States | |
Early-stage companies in fintech and multiple sectors are invested in. | 2012 | ribbitcap.com | Palo Alto, United States | |
Venture and private equity investments are managed with global diversification. | – | tigerglobal.com | New York, United States | |
Investment in growth equity and insurtech sectors in India. | 2007 | tvscapital.in | Chennai, India | |
Investments in early-stage startups are made by Brand Capital. | – | brandcapital.co.in | Mumbai, India | |
Venture capital firm focused on multiple sectors | – | threestatecapitaladvisors.tcc.mode | Singapore, Singapore | |
Private equity firm focused on multiple sectors | – | whc.tcc.mode | Wilmington, United States | |
Multiple sectors are invested in by this private equity firm. | – | jadoff.tcc.mode | Singapore, Singapore | |
Multinational retail corporation | 1962 | walmart.com | Bentonville, United States | |
Value-added internet, mobile, and telecom services are provided in China. | 1998 | tencent.com | Shenzhen, China |
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Investor details for PhonePe
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
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Board of directors of Phonepe Limited (PhonePe)
Phonepe Limited is the primary company behind PhonePe. The boards of the 6 registered companies of PhonePe currently have 25 directors; the longest-serving is Nilesh Datta Naik, appointed in 2021. 50 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Nilesh Datta Naik DIN 09047303 | Whole-time director | 27 Apr 2021 | 5 yrs 5 mo | Phonepe Wealth Broking Private Limited |
| Sameer Nigam DIN 02292840 | Designated Partner | 19 Sep 2022 | 4 yrs 1 mo | Meteor Sports Llp, Phonepe Limited |
| Rahul Chari Vardha DIN 03052804 | Designated Partner | 19 Sep 2022 | 4 yrs 1 mo | Meteor Sports Llp, Phonepe Limited |
| Leigh Douglas Hopkins DIN 09002888 | Nominee Director | 06 Jan 2023 | 3 yrs 9 mo | Phonepe Limited |
| Rohit Bhagat DIN 02968574 | Director | 06 Jan 2023 | 3 yrs 9 mo | Phonepe Limited |
| Ullal Jayanth Kini DIN 00878524 | Director | 29 Mar 2023 | 3 yrs 6 mo | Phonepe Wealth Private Limited |
| Prakash Namdev DIN 10089632 | Director | 29 Mar 2023 | 3 yrs 6 mo | Phonepe Wealth Private Limited |
| Ganesh Pai Panduranga DIN 06802813 | IRP/RP/Liquidator | 02 May 2023 | 3 yrs 5 mo | Phonepe Wealth Private Limited |
| Ujjwal Jain DIN 07463259 | CEO | 01 Sep 2023 | 3 yrs 1 mo | Phonepe Wealth Broking Private Limited |
| Vishal Gupta DIN 08363509 | Whole-Time Director | 13 Nov 2023 | 2 yrs 11 mo | Phonepe Insurance Broking Services Private Limited |
| Sai Prakash Manchikanti DIN 08704072 | Director | 24 Nov 2023 | 2 yrs 10 mo | Phonepe Wealth Broking Private Limited |
| John David Rainey Jr DIN 10464085 | Nominee Director | 24 Jan 2024 | 2 yrs 8 mo | Phonepe Limited |
| Donna Catherine Morris DIN 07177193 | Nominee Director | 24 Jan 2024 | 2 yrs 8 mo | Phonepe Limited |
| Tarun Bajaj DIN 02026219 | Director | 24 Jan 2024 | 2 yrs 8 mo | Phonepe Limited |
| Adarsh Nahata DIN 08068545 | CFO | 18 Sep 2024 | 2 yrs 1 mo | Phonepe Limited |
| Sachin Saurabh DIN 10425456 | Director | 15 Nov 2024 | 1 yr 11 mo | Phonepe Finance Private Limited |
| Manish Mahendra Sabharwal DIN 00969601 | Director | 21 Nov 2024 | 1 yr 10 mo | Phonepe Limited |
| Sujit Modi DIN 03172024 | Whole-time director | 09 Dec 2024 | 1 yr 10 mo | Phonepe Wealth Broking Private Limited |
| Meenakshi Sharma DIN 10372988 | Director | 16 Apr 2025 | 1 yr 6 mo | Phonepe Insurance Broking Services Private Limited, Phonepe Wealth Broking Private Limited |
| Zarin Bomi Daruwala DIN 00034655 | Director | 23 May 2025 | 1 yr 4 mo | Phonepe Limited |
| Hemant Manilal Gala DIN 09296710 | Director | 22 Oct 2025 | 11 mo | Phonepe Finance Private Limited |
| Amit Kumar Jha DIN 11347792 | Director | 22 Oct 2025 | 11 mo | Phonepe Finance Private Limited |
| Madhuri Bharat Gothoskar DIN 11345789 | Director | 22 Oct 2025 | 11 mo | Phonepe Finance Private Limited |
| Ruchi Rakesh Gupta DIN 11350874 | Director | 22 Oct 2025 | 11 mo | Phonepe Finance Private Limited |
| Manas Gupta DIN 11276250 | Whole-Time Director | 03 Nov 2025 | 11 mo | Phonepe Insurance Broking Services Private Limited |
People of PhonePe
259 people are tracked at PhonePe (37 in leadership, 7 in board & advisors, 215 in team); the tracked headcount is 12,265.
| Name | Role | Group |
|---|---|---|
| Founder & CPTO | Leadership | |
| Co-Founder & CEO | Leadership | |
Burzin Engineer | Co-Founder & CRO | Leadership |
| CFO | Leadership | |
Soujanya Mandadi | Director | Leadership |
Vikas Punia | Vice President | Leadership |
Ashwin S Kumar | State Head | Leadership |
Aniruddha Patwardhan | Head Of Engineering | Leadership |
Ashish Baweja | Head Of Engineering - Merchant Solutions | Leadership |
Abhishek Pandey | Head - EDC Business | Leadership |
mani kandan | Head of engineering - quality | Leadership |
Mrigakshi Kaul | Associate Director - Privacy Compliance | Leadership |
Shalini Chakravorty | Chief Ethics and Compliance Officer | Leadership |
Rohit Walimbe | Head Of Data Science ( Consumer Business, Insurance, Share.market, KYC ) | Leadership |
Karthik Raghupathy | Head Of Strategy And Investor Relations | Leadership |
Ajay Bhat | Lead Executive Assistant To CEO & Co-founder And CTO & Co-founder | Leadership |
Radhakrishna R | Head Of Engineering | Leadership |
Atreyee Maitra | Associate Director Legal | Leadership |
Nalin Mittal | Director Corporate Finance And IR | Leadership |
Vijay Ajmera | Vice President | Leadership |
239 more people are available in the full profile.
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Financials of PhonePe
Figures of Phonepe Limited, the primary company behind PhonePe, for FY 2026. Revenue was ₹8,388 Cr (+10% year on year). Net loss was -₹2,792 Cr (-33% margin). EBITDA was -₹1,245 Cr (-15% margin). Revenue has grown at a compounded annual rate of +40% over three years and +63% over five years.
- ₹8,388 CrRevenue · FY 2026 · +10% YoY
- -₹2,792 CrNet loss · -33% margin
- -₹1,245 CrEBITDA · -15% margin
- ₹50.66 CrPaid-up capital
- 7,645Employees (provident fund records)
- +40%Revenue CAGR, 3 years
- +63%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Phonepe Limited are on its company page.
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Detailed financial statements for PhonePe
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- Downloads
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Investments & Acquisitions by PhonePe
PhonePe has strategically engaged in corporate development activities, having acquired 8 companies. Notable acquisitions include App Bazaar, GigIndia and Indus OS.
Acquisitions
| Company Name | Description | Domain | Location | Founded | Acquired | Amount |
|---|---|---|---|---|---|---|
Provider of open source software services | opensourcelabs.io | New York, United States | 2018 | Jul 2022 | •••• | |
An expense management platform is provided by OpenQ for businesses. | openq.in | Mumbai, India | 2018 | May 2022 | •••• | |
ETFs are invested in via an online and app-based platform. | wealthdesk.in | Bengaluru, India | 2016 | May 2022 | •••• | |
Curated part-time workforce is provided on-demand to businesses for projects. | gigindia.netlify.app | Pune, India | 2017 | Mar 2022 | •••• | |
Android-based mobile OS with regional language support is offered. | indusos.com | Mumbai, India | 2013 | May 2021 | $60M | |
Applications are distributed through a marketplace for Indus OS phones. | appbazaar.com | Mumbai, India | 2006 | May 2021 | $60M | |
API-enabled insurance distribution platform is provided for B2C companies. | zopper.com | Noida, India | 2011 | Jul 2018 | •••• | |
Cloud-hosted POS solution is offered for offline retailers. | retail.zopper.com | Noida, India | 2009 | Jul 2018 | •••• |
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Timeline of PhonePe
14 dated milestones of PhonePe across 11 years, from founding to its latest funding, stage changes and deals.
- Founded PhonePe is founded.
- Funding First funding round of $63K.
- Exit Acquired by Flipkart.
- Acquisition Acquires Zopper.
- Acquisition Acquires Zopper Retail.
- Milestone Reaches Unicorn status.
- Acquisition Acquires App Bazaar.
- Acquisition Acquires Indus OS.
- Acquisition Acquires GigIndia.
- Acquisition Acquires WealthDesk.
- Acquisition Acquires OpenQ.
- Acquisition Acquires OSLabs.
- Funding Latest funding round, Series D, of $658.1M.
- Milestone Reaches Decacorn status.
Competitors of PhonePe
PhonePe has 8 listed competitors in our database, 6 of them funded. They include Paytm, MobiKwik, FreeCharge, MoneyGram and One97 Communications, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| paytm.com | 2000 | Noida, India | $2.81B | 14,760 | Digital payments, financial services, and e-commerce platforms are provided. | |
| mobikwik.com | 2009 | Gurugram, India | $283.54M | 698 | Operator of platform for online mobile, DTH recharge, and bill payments | |
| freecharge.in | 2010 | Gurugram, India | $116.92M | 1,762 | Digital wallet services for bill payments and recharges are facilitated. | |
| moneygram.com | 1940 | Dallas, United States | – | – | Cross-border payments are enabled via wallet solutions for consumers. | |
| one97.com | 2000 | Noida, India | – | 86 | Wallet-based payment solutions are provided for consumers and businesses. | |
| ebixcash.com | 1989 | Noida, India | $35.29M | 1,799 | App-based money transfer and bill payment platform for individuals and businesses | |
| citruspay.com | 2011 | Mumbai, India | $32.5M | 160 | Online payment app for consumers and businesses | |
| olamoney.com | 2015 | Bengaluru, India | $27.22M | 31 | Digital financial products and services are provided by OLA Money. |
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Web traffic of PhonePe
The website of PhonePe (phonepe.com) receives about 11.9M visits a month.
- Monthly visits11.9M
▼ 13.8% vs previous month
Similar websites
Websites whose visitors overlap most with PhonePe. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
tataneu.com | tataneu.com | 100% | – | #11,961 | – |
| cashkaro.com | 98% | 6.3M | #10,969 | View details | |
pricehistory.app | pricehistory.app | 97% | – | #16,461 | – |
grabon.in | grabon.in | 95% | – | #14,424 | – |
| shiprocket.co | 93% | – | – | View details | |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
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Top companies in Payments & Remittance Platforms
10 companies that operate in the same segment as PhonePe (Payments & Remittance Platforms), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Ride-hailing and on-demand delivery services are aggregated via mobile app. | 2012 | Singapore, Singapore, Singapore | USD 10.38 B | USD 3.37 B | 57,733 | |
Digital payments, financial services, and e-commerce platforms are provided. | 2000 | Noida, Uttar Pradesh, India | USD 2.81 B | USD 1.05 B | 39,368 | |
Payment processing and card issuance solutions are provided for businesses. | 2009 | San Francisco, California, United States | USD 9.81 B | – | 16,622 | |
Cloud-based accounts payable and receivable software for businesses | 2006 | Palo Alto, California, United States | USD 325.6 M | USD 1.65 B | 3,108 | |
Payment and business banking solutions are provided for enterprises. | 2014 | Bengaluru, Karnataka, India | USD 741.62 M | USD 302.19 M | 2,850 | |
Spend management and accounts payable solutions are delivered to businesses. | 2019 | New York, New York, United States | USD 5.07 B | – | 6,209 | |
Payment acceptance and processing solutions provider for businesses | 2018 | Gurugram, Haryana, India | USD 589.25 M | USD 179.52 M | 3,670 | |
Business spends, payments, and rewards are streamlined by automated workflows. | 2011 | Hyderabad, Telangana, India | USD 13.75 M | USD 149.43 M | 431 | |
Online payment processing and credit solutions are provided for businesses. | 2002 | Amsterdam, North Holland, Netherlands | USD 35.15 M | USD 5.47 B | 3,355 | |
SaaS-driven credit card and spend management solutions platform for businesses | 2017 | Draper, Utah, United States | USD 1.2 B | – | 5,356 |
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Related news about Phonepe
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Articles about PhonePe on our blog
Frequently Asked Questions about PhonePe
PhonePe was founded in 2012 and raised its 1st funding round 2 years after it was founded.
PhonePe is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Sameer Nigam is the current CEO of PhonePe. They have also founded this company.
PhonePe is a funded company, having raised a total of $1.71B across 4 funding rounds to date. The company's 1st funding round was a Angel Round of $62.73K, raised on Aug 2014.
PhonePe has 12,265 employees.
The primary company behind PhonePe, Phonepe Limited, reported revenue of ₹8,388 Cr for FY 2026, up 10% year on year.
Founded in 2012 and based in Bengaluru, India, PhonePe operates within the fintech sector. Online and offline payment solutions are facilitated for businesses and consumers through gateways and links. Merchant lending options are extended alongside consumer lending. Insurance products, investment avenues, and digital gold services are made available to users across the region.
PhonePe offers Payment Gateway, Insurance Products, and Investment Platform.
PhonePe has made 8 acquisitions, including App Bazaar, GigIndia, and Indus OS.
PhonePe has 20 investors. Key investors include Flipkart, Microsoft, Tencent, Walmart, and General Atlantic.
The valuation of PhonePe is $14.5B as of Oct 2025.