PhonePe is a mobile payments platform that enables users to instantly transfer money using just a mobile number. Built on the Unified Payments Interface (UPI) and supported by a digital wallet, it offers a fast, secure, and convenient way to pay. The company’s mission is to make digital payments so effortless and trusted that carrying cash or cards becomes unnecessary. PhonePe also works to simplify commerce for both consumers and businesses across India.
PhonePe aims to raise $1.5 billion through the IPO and is targeting a valuation of up to $15 billion. Kotak Mahindra Capital, JPMorgan Chase, Citigroup, and Morgan Stanley have been appointed as lead managers for the offering.
PhonePe, headquartered in Andheri, Maharashtra, India, was founded in 2015 by Burzin Engineer, Rahul Chari, and Sameer Nigam. The company primarily operates in India but is expanding its UPI-based payment services to international markets like the UAE, Singapore, Nepal, Sri Lanka, and Mauritius to serve Indian travelers abroad.
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