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Sameer Nigam
PhonePe
Bringing digital transactions to every phone
If UPI has transformed how India makes payments, Mr. Sameer Nigam would be counted among those who led the charge. Mr. Nigam is the co-founder of PhonePe, a brand that not only simplified digital payments but is also one of India’s most trusted fintechs.
A Computer Science engineer from the University of Mumbai, Mr. Nigam pursued postgraduate studies at the University of Arizona. He launched startups like Shopzilla (2001–2007) and Mime360, a content distribution platform, in 2009, later acquired by Flipkart. After joining Flipkart in 2011, he held leadership roles in marketing and engineering before co-founding PhonePe in 2015.
Launched as a UPI-based platform for peer-to-peer transfers, PhonePe quickly expanded into bill payments, mobile recharges, mutual fund investments and income tax payments. By 2023, with 500 million registered users, operating in 11 languages, it was one of India’s most-used apps. Mr. Nigam’s customer-first approach helped PhonePe thrive despite competition from bigger players. The company’s valuation reached INR99,000 crore by 2023. It declared a net revenue of over INR5,000 crore in FY24 with a workforce of approximately 14,000. It has also expanded internationally, serving non-resident Indians and global consumers.
PhonePe has been recognized by the National Payments Corporation of India (NPCI) for leading UPI merchant transactions. With the tremendous growth that Mr. Nigam has driven over almost a decade, he has placed PhonePe firmly on the path to an IPO. Having redomiciled the company from Singapore to India in December 2022, he has been instrumental in establishing a corporate structure where the new non-payment businesses, such as the app store, are fully owned subsidiaries.
In December 2024, Mr. Nigam and other co-founders pledged a US$1 million grant to Sardar Patel Institute of Technology to support infrastructure and student innovation. Combining technical expertise with an inclusive vision, he continues to shape the future of digital finance in India.