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Hub AI
PhonePe AI simulator
(@PhonePe_simulator)
Hub AI
PhonePe AI simulator
(@PhonePe_simulator)
PhonePe
PhonePe is an Indian digital payments and financial services company, headquartered in Bengaluru. It was founded in December 2015, by Sameer Nigam, Rahul Chari and Burzin Engineer. The PhonePe app, based on the Unified Payments Interface, went live in August 2016.
The PhonePe app is accessible in 11 Indian languages. It enables users to perform various financial transactions such as sending and receiving money, recharging mobile and DTH, making utility payments, conducting in-store payments.
PhonePe was incorporated in December 2015. In April 2016, the company was acquired by Flipkart and as part of the acquisition, the FxMart license was transferred to PhonePe and rebranded as the PhonePe wallet. PhonePe's co-founder Sameer Nigam was appointed as the CEO of the company.
In August 2016, the company partnered with Yes Bank to launch a UPI-based mobile payment app, based on the government-backed UPI platform.
In December 2020, Flipkart and PhonePe declared a partial split, with Walmart maintaining its majority ownership in PhonePe and the two entities functioning independently. In 2022, PhonePe shifted its domicile to India from Singapore and completed separation from Flipkart.
In 2022, it launched international UPI payments, allowing Indian users traveling abroad to pay foreign merchants with Unified Payments Interface (UPI).
In 2022, PhonePe obtained licensing from the Reserve Bank of India for operating a Semi-Closed Prepaid Payment system.
In January 2023, PhonePe raised $350 million from General Atlantic, a US growth equity firm, at a pre-money valuation of $12 billion. It raised another $100 million in primary capital in February 2023 from Ribbit Capital, Tiger Global, and TVS Capital Funds, followed by $200 million in primary capital from Walmart, and another $100 million from General Atlantic at the same valuation.
PhonePe
PhonePe is an Indian digital payments and financial services company, headquartered in Bengaluru. It was founded in December 2015, by Sameer Nigam, Rahul Chari and Burzin Engineer. The PhonePe app, based on the Unified Payments Interface, went live in August 2016.
The PhonePe app is accessible in 11 Indian languages. It enables users to perform various financial transactions such as sending and receiving money, recharging mobile and DTH, making utility payments, conducting in-store payments.
PhonePe was incorporated in December 2015. In April 2016, the company was acquired by Flipkart and as part of the acquisition, the FxMart license was transferred to PhonePe and rebranded as the PhonePe wallet. PhonePe's co-founder Sameer Nigam was appointed as the CEO of the company.
In August 2016, the company partnered with Yes Bank to launch a UPI-based mobile payment app, based on the government-backed UPI platform.
In December 2020, Flipkart and PhonePe declared a partial split, with Walmart maintaining its majority ownership in PhonePe and the two entities functioning independently. In 2022, PhonePe shifted its domicile to India from Singapore and completed separation from Flipkart.
In 2022, it launched international UPI payments, allowing Indian users traveling abroad to pay foreign merchants with Unified Payments Interface (UPI).
In 2022, PhonePe obtained licensing from the Reserve Bank of India for operating a Semi-Closed Prepaid Payment system.
In January 2023, PhonePe raised $350 million from General Atlantic, a US growth equity firm, at a pre-money valuation of $12 billion. It raised another $100 million in primary capital in February 2023 from Ribbit Capital, Tiger Global, and TVS Capital Funds, followed by $200 million in primary capital from Walmart, and another $100 million from General Atlantic at the same valuation.