The most valuable Indian fintech startup, PhonePe, disclosed in a filing that it clocked a revenue of $234.3 million in the first nine months of 2022. This shows just how successful PhonePe has been since it was founded back in 2014 by Bharti Airtel CEO Sunil Mittal and Prem Watsa, the founder and CEO of Fairfax Financial Holdings. With such an impressive record, it is no wonder that several prominent venture capitalists have invested money into this company over the years – including
This indicates that the company is growing rapidly and is looking to maintain its lead in the Indian market. The revenue growth could be due to the increasing popularity of its services, or it could be attributable to increased demand from existing customers.
PhonePe is one of the most popular platforms for making phone calls in India. With its user base of over 175 million people, PhonePe is estimated to be worth $12 billion. The company has projected that its revenue will quadruple to $325 million in 2022 and increase further to $504 million by 2023, based on current trends and estimates. Given the increasing popularity of mobile phone calling in India, PhonePe’s impressive growth prospects are sure to attract major investors.
PhonePe wants to turn EBIDTA positive by 2025, which is great news for the startup. They have been making progress and investors seem to be happy with their progress so far. However, turning EBIDTA positive is not going to be an easy task and they will need to keep up their focus if they want to achieve this.
PhonePe is all set to launch its new app in the market which will be known as ‘ PhonePe Lite ‘. The app has been designed for people who want an easy and hassle free way of
The success of PhonePe has seen its valuation grow to over $12 billion, making it the most valuable fintech startup in India. Its main competitors are Google Pay and Paytm, both of which are respectively valued at $4.1 billion and $1 billion. Although competition is fierce, PhonePe seems to be winning the race thanks to its user-friendly features and wide deployment across India.
PhonePe is the clear leader in the mobile payments market on UPI, a network built by a coalition of retail banks in India. The reason for this dominance is simple: people trust PhonePe. Over 7 billion transactions are processed through UPI every month, and more than 40% of all online transactions take place through PhonePe. This leaves little room for other payment options, making it difficult for challengers to gain any ground. If you want to be sure your customers can pay you using their cell phones, then look no further than PhonePe!
PhonePe’s growth has been slowed by Indian regulators enforcing a market cap check on each player, but the deadline for the new guidelines was extended last month and now won’t come into effect until 2025. This gives PhonePe another two years of fast-growth.