Sameer Nigam is the CEO of PhonePe. As per his recent interview, PhonePe has initiated pilot projects for digital lending, which will put it in direct competition with Paytm, owned by Vijay Shekhar Sharma. Nigam also mentioned that the company plans to launch this service officially soon and is in the process of applying for an NBFC (Non-Banking Financial Company) license.
Sameer Nigam, who founded PhonePe in 2015, is the CEO of the fintech company. Prior to joining PhonePe, he served as the Senior Vice President of Engineering and Vice President of Marketing at Flipkart.
In 2011, Flipkart acquired Mime360, a company he co-founded.
He also served as the Director of Product at Shopzilla.
He has a strong educational background.
He holds an MBA degree from the renowned Wharton Business School and a Master’s Degree in Computer Science from the University of Arizona.
Who is Rahul Chari?
Rahul Chari is the co-founder and Chief Technology Officer (CTO) of PhonePe, with over 20 years of experience. Before co-founding PhonePe, he was the Vice President of Engineering at Flipkart. He had joined Flipkart after the company acquired his start-up Mime360. Prior to that, he worked at Cisco Systems. Chari is also a holder of several patents. He completed his computer engineering degree from the University of Bombay, where he was a gold medalist. He also holds a Master’s Degree in Computer Science from Purdue University in the USA.
A recent article in the Economic Times stated that PhonePe’s co-founders are set to receive a payout of Rs 205 crore as they have fully liquidated their stock options. This comes after Flipkart announced on December 23 last year that it would be separating from PhonePe, which it had acquired in 2018. The co-founders had previously been employees of Flipkart before starting PhonePe on December 15.
In the first nine months of the previous financial year, PhonePe earned an operational provisional revenue of Rs 1912 crore. The projected revenue for the calendar year 2023 was Rs 4123.2 crore.
Earlier this year, PhonePe secured a funding of 350 million dollars at a valuation of 12 billion dollars (Rs 99,000 crore). Qatar Investment Authority (QIA), Microsoft, Tencent, and Tiger Global participated in this funding round.
The company’s CEO stated that they will only consider an IPO after the company becomes profitable.