PhonePe Reaches 60 Crore Users Amidst IPO Preparations And Celebrates 10th Anniversary

Fintech major PhonePe has crossed 60 crore registered users on its platform, the company said on Tuesday. The milestone for the country's largest fintech firm coincides with its preparation for initial public and in the 10th year of its operations.

"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," Sameer Nigam, co-founder and chief executive officer at PhonePe .

In the 10 years, the company has diversified its operations to wealth management, e-commerce with Pincode etc.

The company was valued at $12 billion during its last funding round held in 2023.

The PhonePe digital payments app, was launched in August 2016.

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 processes over 33 crore transactions daily with an annualized total payment value of over Rs 150 lakh crore.