Meet man, who left Flipkart to start his company, it is now worth Rs 104316 crore with 60 crore users

Sameer Nigam has excelled in his business with his fintech firm, PhonePe. He serves as the chief executive officer (CEO) of the company, which he co-founded in 2016. The fintech major has crossed 60 crore registered users on its platform, the company said on Tuesday. PhonePe is one of India's largest fintech firms, which launched its digital payments app in August 2016. The company was valued at USD 12 billion (presently Rs 104316 crore) during its last funding round held in 2023. In the 10 years, the company has diversified its operations to wealth management, e-commerce, with Pincode, etc. 

Before starting PhonePe, Sameer served as senior vice president, engineering, and vice president, marketing, at Flipkart. His journey at Flipkart started in 2011 when the company acquired his earlier startup, Mime360, a digital media distribution platform. Sameer has also served as Director of Product Management at Shopzilla Inc, where he built the company's proprietary shopping search engine. He holds an MBA from Wharton Business School (University of Pennsylvania), USA, and a Master’s degree in Computer Science from the University of Arizona, US.

Sameer Nigam on PhonePe 60 crore users

"Reaching 60 crore registered users is a proud moment for all of us at PhonePe. Every milestone we achieve brings us a step closer to realising our vision of building a truly inclusive financial ecosystem. We will continue building homegrown solutions to meet the evolving needs of our users and help drive India's digital transformation," said CEO Sameer Nigam.

READ | Shark Tank's Anupam Mittal reacts as Haldiram's plans to sell 10% stake: 'Ek lakh crore ki...' 

As of March 2025, PhonePe has over 60 crore registered users and a digital payments acceptance network spread across over 4 Crore merchants. As of March 2024, the company had about 53 crore registered users, approximately 20 crore monthly active customers. PhonePe claims to process over 33 crore transactions daily with an annualized total payment value of over Rs 150 lakh crore.