PhonePe handles over 49.80% of UPI transactions in India.
According to the reports, PhonePe’s IPO could exceed USD 1 billion, making it one of the biggest fintech IPOs in India.
Besides UPI, PhonePe expanded into insurance, mutual funds, and wealth management.
PhonePe reported a 74% revenue jump in FY24, reaching ₹5,064 crore.
Phonepe is majorily (83.91%) owned by Walmart, giving it solid financial backing.