PhonePe Prepares IPO at $10–12 Billion Valuation
Hey Payments Fanatic!
PhonePe is gearing up for an IPO, aiming for a $10-12 billion valuation, and is likely to file by the end of September.
Around 10% of its equity may be offered for sale, alongside fresh capital, with the IPO expected at $1.2-$1.5 billion and a listing planned for early 2026.
Most liquidity could go to smaller investors, while Walmart is expected to retain its majority stake. A banker noted, “Some of the smaller investors such as Tiger Global and General Atlantic may seek a partial exit through the IPO.”
Controlling over 45% of UPI payments, PhonePe operates across QR payments, payment gateways, and financial products like insurance and loans, setting the stage for its next growth phase.
👇 Scroll down for the rest of today’s payments headlines and enjoy your weekend!
Cheers,
Get the Latest in Paytech! Join my new Telegram channel for daily updates on paytech trends and exclusive insights. Connect with industry enthusiasts and stay on top of innovation!
NEWS
🇺🇸 Consumers turn to last-minute payments as cash flow pressures mount. According to the 2025 ACI Worldwide Speedpay Pulse Report, 31% of consumers made an urgent or same-day payment in the past year, a trend especially pronounced among Gen Z and Millennials.
🇦🇷 Why NPS Matters in B2B: Pomelo's Journey to 55. The company celebrates reaching a Net Promoter Score (NPS) of 55, a significant achievement that highlights strong customer trust and loyalty. In the B2B sector, where client relationships and decisions are highly strategic, such a high score signals not just satisfaction but active promotion by customers.
🇮🇳 PhonePe to file for IPO via confidential route by September-end. PhonePe is also expected to raise some fresh capital in the process. In all, the IPO may be sized at approximately Rs 10,000–13,000 crore (around $1.2–1.5 billion), valuing the company at around $10–12 billion. The company aims to list by early 2026.
🇵🇪 Credicorp's FinTech Culqi appoints Spencer Friedman as its new CEO. With this appointment, Culqi reinforces its commitment to growth and innovation in the digital payments ecosystem, seeking to consolidate its position as one of the leading FinTech companies in the Peruvian market.
🇺🇸 Utila secures $22 million series A extension amid surging demand for stablecoin infrastructure. The extension funding will accelerate Utila’s global expansion and product development as the company scales to meet surging demand for digital asset infrastructure.
🇸🇬 Ant International’s Antom launches agentic payment solution. Antom EasySafePay allows users to link their digital wallets directly to the checkout page without being redirected to external apps. The solution supports embedded payment flows through dialogue-based interactions with AI agents.
🇨🇳 Freedom Bank and UnionPay Business partner to boost Kazakhstan-China E-Commerce. This partnership aims to establish a China-Kazakhstan settlement system for e-commerce and digital economy operations. The agreement will enhance economic and trade ties by developing payment infrastructure and expanding cooperation in wholesale payment operations.
🇺🇸 FinTech startup Ramp hits $1 billion in annualized revenue after notching $22.5 billion valuation. Ramp’s rapid growth is part of its ballooning sticker tag. Whether the company can continue to expand beyond the lower-margin arena of credit-card interchange fees will determine its future success.
🇺🇸 Crypto firm Fireblocks launches a stablecoin payments network. The network aims to give users access to the banking relationships and regulatory licenses of a broader swathe of companies than customers would likely have access to themselves, Michael Shaulov, cofounder and CEO of Fireblocks, said.
🇸🇪 Safello integrates Trustly as a payment method. The integration enables users to make direct bank transfers when purchasing cryptocurrencies, resulting in a faster and more user-friendly buying experience, particularly for larger transactions. Read more
🇺🇸 PayPal and Venmo users offered early access to Perplexity's new Comet Bowser with a free Perplexity Pro subscription. Comet offers a range of features like an integrated AI assistant, native answer-focused search, product comparisons, and more.
🇵🇱 OKX launches BLIK payments in cooperation with ZEN.COM. Users can purchase cryptocurrencies using BLIK. Global FinTech company ZEN.COM is responsible for implementing this payment method. The solution makes purchasing cryptocurrencies even faster and more convenient, while maintaining complete security.
Want your message in front of 100.000+ FinTech fanatics, founders, investors, and operators?
Shoot me a message on LinkedIn or send me an e-mail.
Comments ()