PhonePe

PhonePe

Digital payments platform facilitating transactions

About PhonePe

Simplify's Rating
Why PhonePe is rated
A-
Rated B on Competitive Edge
Rated A on Growth Potential
Rated A on Differentiation

Industries

Consumer Software

Fintech

Financial Services

Company Size

5,001-10,000

Company Stage

Growth Equity (Venture Capital)

Total Funding

$1.9B

Headquarters

Bengaluru, India

Founded

2015

Overview

PhonePe is a digital payments platform in India that allows individuals and businesses to conduct financial transactions securely and efficiently. It primarily operates through the Unified Payments Interface (UPI), enabling users to transfer money directly between bank accounts via their mobile phones. In addition to mobile payments, PhonePe offers insurance products and investment solutions, creating a comprehensive financial ecosystem. The company's goal is to make digital payments accessible to the next billion users in India.

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Simplify's Take

What believers are saying

  • Acquisition of GSPay IP expands PhonePe's reach in the feature phone market.
  • Co-branded credit cards with HDFC Bank could increase customer loyalty and transaction volumes.
  • Offline QR payments and P2P transfers position PhonePe as a leader in inclusive digital payments.

What critics are saying

  • Pine Labs' IPO could intensify competition in the digital payments sector.
  • Feature phone app adoption may be hindered by limited connectivity and technological literacy.
  • Integration of GSPay IP may face challenges and potential legal issues.

What makes PhonePe unique

  • PhonePe enables UPI payments on feature phones, expanding access to non-smartphone users.
  • The company offers co-branded credit cards with HDFC Bank, enhancing financial service integration.
  • PhonePe's upgraded SmartSpeaker boosts offline payments, strengthening its merchant ecosystem presence.

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Funding

Total Funding

$1874.8M

Above

Industry Average

Funded Over

3 Rounds

Notable Investors:
Growth Equity VC funding comparison data is currently unavailable. We're working to provide this information soon!
Growth Equity VC Funding Comparison
Coming Soon

Benefits

Insurance Benefits - Medical Insurance, Critical Illness Insurance, Accidental Insurance, Life Insurance

Wellness Program - Employee Assistance Program, Onsite Medical Center, Emergency Support System

Parental Support - Maternity Benefit, Paternity Benefit Program, Adoption Assistance Program, Day-care Support Program

Mobility Benefits - Relocation benefits, Transfer Support Policy, Travel Policy

Retirement Benefits - Employee PF Contribution, Flexible PF Contribution, Gratuity, NPS, Leave Encashment

Other Benefits - Higher Education Assistance, Car Lease, Mobile & Broadband Reimbursements, Salary Advance Policy

Company News

7inch
Jun 26th, 2025
Fintech firm Pine Labs files papers with Sebi for Rs 2,600 crore IPO

Pine Labs provides end-to-end payment solutions and hardware to merchants and competes with players like Paytm and PhonePe in the digital payments ecosystem.

Card Insider
Jun 26th, 2025
Everything About the New PhonePe HDFC Bank Co-Branded Cards

PhonePe and HDFC Bank have launched two new RuPay Co-Branded Credit Cards aimed at making UPI payments more convenient.

Informal Newz
Jun 7th, 2025
New UPI Payments System: PhonePe users can now make UPI payments from feature phones without internet, know how

PhonePe is soon going to launch a new app, which will allow feature phone users to make UPI payments without internet.

Telecom Live
Jun 7th, 2025
PhonePe acquires GSPay IP to launch UPI payments for new feature phones

PhonePe on Friday said it has acquired the IP of GSPay - a proprietary technology stack from conversational engagement platform Gupshup - to enable UPI-based payments on new feature phones.

Gadgets 360
Jun 6th, 2025
PhonePe to Launch UPI Payments App for Feature Phones With P2P Transfers, Offline QR Payments

PhonePe to launch UPI payments app for feature phones with P2P transfers, offline QR payments.

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