PhonePe has surpassed 60 crore registered users, marking a significant achievement as it gears up for an initial public offering (IPO). The milestone comes in the company’s 10th year of operations, underscoring its rapid expansion in the fintech ecosystem.
Expressing his excitement, Sameer Nigam, Co-Founder and CEO of PhonePe, stated, “Reaching 60 crore registered users is a proud moment for us. Every milestone brings us closer to our vision of building an inclusive financial ecosystem. We remain committed to developing homegrown solutions that cater to the evolving needs of our users while driving India’s digital transformation.”
Since its inception in August 2016, PhonePe has evolved beyond digital payments, expanding into wealth management and e-commerce with its Pincode platform. The company was last valued at $12 billion in its 2023 funding round.
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As of March 2025, PhonePe boasts a vast digital payments acceptance network, covering over 4 crore merchants. The platform processes more than 33 crore transactions daily, with an annualized total payment value exceeding ₹150 lakh crore.
In comparison, as of March 2024, PhonePe had around 53 crore registered users and 20 crore monthly active customers, highlighting its impressive growth trajectory.
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