Meet man who once worked at Flipkart, now runs Rs 99400 crore company, he is…

The rise of fintech companies in India has revolutionized the way financial transactions are carried out. One notable participant in this market is PhonePe, a digital banking platform that was founded in 2015 by three former Flipkart employees: Sameer Nigam, Rahul Chari, and Burjin Engineer. Since taking over as CEO, Sameer Nigam has guided the business to become a reputable and well-liked provider of financial solutions for millions of users.

The trajectory of PhonePe's journey underwent a dramatic shift upon being purchased by Flipkart for less than $20 million. Walmart subsequently gained indirect control over PhonePe as a result of its acquisition of the majority stake in Flipkart. But PhonePe took a risk in 2022 and broke away from Flipkart to become independent.

Sameer Nigam has an MBA from the esteemed Wharton Business School and a master's degree in computer science from the University of Arizona.

PhonePe has simplified financial management for both individuals and businesses with its wide range of financial services, which include digital wallets, UPI payments, bill payments, and smooth purchase transactions. The platform's services have been further enhanced by its entry into cross-border UPI payments and the 2023 release of Pincode, an app for hyperlocal shopping and commerce.

Boasting over 500 million users and 37 million merchants, PhonePe commands a substantial share of the UPI and Bharat Bill Pay System markets, with a speculated valuation exceeding $12 billion or over Rs 99,400 crore as of November 2023.