Is PhonePe a Swadeshi Company?
Digital payments and financial services platform
Frequently Asked Questions
No, PhonePe is not owned by Indians. It is currently owned by Walmart (via Flipkart) from United States. Walmart (majority stake post-separation).
PhonePe was founded in India in 2015 by Sameer Nigam, Rahul Chari, Burzin Engineer. However, it was acquired by Walmart (via Flipkart) in 2016 (acquired), 2022 (separated), making it a foreign-controlled company despite its Indian origins.
No, PhonePe is not a Swadeshi company. Owned by American retail giant Walmart after Flipkart acquisition and subsequent separation
PhonePe is owned by Walmart (via Flipkart) from United States. Walmart (majority stake post-separation). The acquisition took place in 2016 (acquired), 2022 (separated) for $16 million (initial), separated in 2022.
PhonePe is not publicly listed on Indian stock exchanges as a standalone entity.
PhonePe was acquired in 2016 (acquired), 2022 (separated) by Walmart (via Flipkart) for $16 million (initial), separated in 2022.
One of India's leading UPI platforms controlled by foreign entity, raising data sovereignty concerns
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