PhonePe is announcing that the Fintech company is officially commencing preparatory steps in connection with its potential (initial public offering) IPO and intends to list on Indian exchanges.
This marks a key milestone for the Fintech company, which will mark its 10-year of operations this year, and claims it has grown “to serve hundreds of millions of customers with innovative financial services and technology solutions.”
PhonePe says it has been focused on eventually becoming a public company in India, having been founded in the nation that’s home to 1.5 billion people and being a key player in diverse nation’s fintech ecosystem.
In Dec 2022, PhonePe redomiciled from Singapore to India, and subsequently, established “a clear corporate structure with each of its new non-payment businesses as fully owned subsidiaries.”
PhonePe’s steady top-line and bottom-line growth across its diverse business portfolio, as detailed in its FY23-24 annual report, “makes this a suitable time to prepare for a public listing,” according to the company.
As covered, PhonePe Group is one of India’s fintech companies.
Its flagship product, the PhonePe digital payments app, was reportedly launched in Aug of 2016.
Since that time, the PhonePe app has become one of India’s most widely-adopted consumer payments app.
As of January 2025, Fintech firm PhonePe says that it has more than 59 Crore (590 million) lifetime registered users and a digital payments acceptance network that is said to be spread “across over 4 Crore (40 million) merchants.”
PhonePe also processes over 31 Crore transactions daily with an Annualized Total Payment Value (TPV) of over INR 145 lakh crore.
On the back of its role in digital payments, PhonePe Group has “expanded into financial services (Insurance, Lending, Wealth) as well as new consumer tech businesses (Pincode -hyperlocal e-commerce and Indus Appstore – India’s localized App Store).”
PhonePe Group is an India headquartered technology company with a portfolio of businesses that are reportedly “aligned with the company’s vision to offer every Indian an equal opportunity to accelerate their progress by unlocking the flow of money and access to services.”