Sameer nigam: Difference between revisions
Sameer Nigam
Aashiv Gupta (talk | contribs) (Created page with "{{SHORTDESC:Indian fintech and digital payments company (founded 2015)}} {{#seo: |title=PhonePe |title_mode=append |keywords=PhonePe, PhonePe Arisepedia, PhonePe Wikipedia, PhonePe biography, who is PhonePe, PhonePe Wiki, PhonePe digital payments, PhonePe UPI, PhonePe India |description=PhonePe is a leading Indian fintech company offering UPI-based digital payments, wealth management, and financial services. Founded in 2015, it has over 530 million users. |image=PhonePe_...") |
Aashiv Gupta (talk | contribs) (Sameer Nigam) |
||
| Line 35: | Line 35: | ||
|} | |} | ||
'''PhonePe''' is a leading Indian digital payments and financial services platform headquartered in Bengaluru, Karnataka. Founded in December 2015 by '''Sameer Nigam''', '''Rahul Chari''', and '''Burzin Engineer''', PhonePe has grown into one of India’s most trusted fintech brands, enabling over 530 million users to perform seamless UPI-based transactions, bill payments, and access a range of financial services. | '''PhonePe''' is a leading Indian digital payments and financial services platform headquartered in Bengaluru, Karnataka. Founded in December 2015 by '''Sameer Nigam''', '''Rahul Chari''', and '''Burzin Engineer''', PhonePe has grown into one of India’s most trusted fintech brands, enabling over 530 million users to perform seamless UPI-based transactions, bill payments, and access a range of financial services.<ref>https://www.ptinews.com/story/business/phonepe-crosses-60-cr-registered-users/2365884</ref> | ||
== History and Growth == | == History and Growth == | ||
PhonePe was acquired by '''Flipkart''' in April 2016, giving it access to a vast user base and integration opportunities. That same year, PhonePe partnered with '''Yes Bank''' to launch India’s first UPI-based mobile app. | PhonePe was acquired by '''Flipkart''' in April 2016, giving it access to a vast user base and integration opportunities. That same year, PhonePe partnered with '''Yes Bank''' to launch India’s first UPI-based mobile app. | ||
By 2017, PhonePe became one of the largest contributors to UPI transactions in India. In 2020, Walmart retained majority ownership in PhonePe after a partial spin-off from Flipkart, allowing the company to operate independently. | By 2017, PhonePe became one of the largest contributors to UPI transactions in India. In 2020, Walmart retained majority ownership in PhonePe after a partial spin-off from Flipkart, allowing the company to operate independently.<ref>https://www.business-standard.com/companies/news/phonepe-clocks-600-mn-registered-users-adds-100-mn-in-past-16-months-125031100634_1.html</ref> | ||
== Key Offerings == | == Key Offerings == | ||
| Line 48: | Line 48: | ||
* Credit, insurance, and mutual fund investments | * Credit, insurance, and mutual fund investments | ||
* Digital gold and wallet services | * Digital gold and wallet services | ||
* Metro card recharges and FASTag recharges | * Metro card recharges and FASTag recharges<ref>https://www.thehindu.com/news/national/karnataka/phonepe-founder-and-ceo-apologises-for-comments-on-job-reservation-draft-bill/article68430173.ece</ref> | ||
== Subsidiaries and New Ventures == | == Subsidiaries and New Ventures == | ||
| Line 55: | Line 55: | ||
* '''PhonePe Wealth Broking''' – including '''Share.Market''' for mutual funds and stock trading | * '''PhonePe Wealth Broking''' – including '''Share.Market''' for mutual funds and stock trading | ||
* '''Pincode''' – hyperlocal commerce platform on ONDC | * '''Pincode''' – hyperlocal commerce platform on ONDC | ||
* '''Indus Appstore''' – India’s alternative app marketplace | * '''Indus Appstore''' – India’s alternative app marketplace<ref>https://www.cnbctv18.com/market/walmart-backed-phonepe-gears-up-for-potential-ipo-on-indian-exchanges-19562332.htm</ref> | ||
== Funding and Valuation == | == Funding and Valuation == | ||
As of 2023, PhonePe has raised over '''$850 million''' from investors including Walmart, General Atlantic, Tiger Global, Ribbit Capital, and TVS Capital. The company is valued at over '''$12 billion''', making it one of India’s most valuable fintech unicorns. | As of 2023, PhonePe has raised over '''$850 million''' from investors including Walmart, General Atlantic, Tiger Global, Ribbit Capital, and TVS Capital. The company is valued at over '''$12 billion''', making it one of India’s most valuable fintech unicorns.<ref>https://timesofindia.indiatimes.com/technology/tech-news/karnataka-reservation-bill-phonepe-ceo-and-founder-sameer-nigam-issues-this-personal-statement/articleshow/111908948.cms</ref> | ||
== Challenges and Legal Hurdles == | == Challenges and Legal Hurdles == | ||
In January 2017, PhonePe faced regulatory issues with ICICI Bank and Airtel regarding UPI compliance. The '''National Payments Corporation of India (NPCI)''' temporarily restricted some transactions before the disputes were resolved. | In January 2017, PhonePe faced regulatory issues with ICICI Bank and Airtel regarding UPI compliance. The '''National Payments Corporation of India (NPCI)''' temporarily restricted some transactions before the disputes were resolved.<ref>https://www.moneycontrol.com/news/business/startup/phonepe-has-long-aspired-to-go-public-excited-to-take-early-steps-towards-ipo-walmart-ceo-doug-mcmillon-12946695.html</ref> | ||
== Recognition == | == Recognition == | ||
| Line 69: | Line 69: | ||
== Future Vision == | == Future Vision == | ||
PhonePe aims to deepen financial inclusion by launching innovative tools for stock investment, insurance, credit, and digital commerce. With a focus on expanding beyond payments, PhonePe is building a comprehensive financial services ecosystem for Bharat. | PhonePe aims to deepen financial inclusion by launching innovative tools for stock investment, insurance, credit, and digital commerce. With a focus on expanding beyond payments, PhonePe is building a comprehensive financial services ecosystem for Bharat.<ref>https://www.ndtv.com/india-news/sameer-nigam-phonepe-ceo-apologies-amid-boycott-campaign-over-remark-on-karnataka-job-quota-bill-6159710</ref> | ||
== Conclusion == | == Conclusion == | ||