PhonePe Secures $2.6 Billion Funding, Paving the Way for a New Era in India's Digital Payments

PhonePe Group, India's leading fintech powerhouse and the nation’s #1 Trusted Digital Payments Brand for three consecutive years, is thrilled to announce a momentous funding milestone with a successful raise of INR 2.6 billion. Since launching our flagship PhonePe app in August 2016, our journey has been marked by rapid innovation and unparalleled growth, and this new capital injection fortifies our mission to empower every Indian by unlocking the flow of money and delivering secure, easy financial services. Over the past eight years, PhonePe has garnered the trust of over 57 crore registered users, creating an expansive digital payments network that covers more than 4 crore merchants across Tier 2, Tier 3 cities, and beyond—spanning 99% of India’s postal codes. This substantial funding will be strategically deployed to bolster our core digital payments ecosystem, as well as accelerate our ambitious expansion into an integrated suite of financial services including insurance, lending, and wealth management. Additionally, it will support our pioneering consumer tech ventures such as Pincode, a hyperlocal e-commerce platform, Indus App Store, India’s first localized app store, and Share.Market, a dynamic wealth and investment platform tailored for investors and traders alike. Headquartered in India, PhonePe Group is steadfast in its commitment to provide equal access to advanced financial solutions while championing the spirit of innovation across the digital realm. This funding round marks not just a financial triumph, but a reinforcement of our vision to continue revolutionizing how Indians transact and manage their financial lives, ensuring a seamless, secure, and inclusive experience for all.