The above graph represents the growth in PhonePe revenue by year, starting from the fiscal year 2016 to the recently completed year. The Flipkart-owned PhonePe reported its highest-ever annual revenue of Rs 245.8 crore in FY 2019, with a massive 401.3% year-over-year growth.
|Source||Registrars of Companies (ROC)|
|Note||India fiscal year starts from April 1st|
The demonetisation led to a huge push towards the digital transactions in India. The players like PhonePe, Paytm, FreeCharge all have seen a huge surge in its user base, revenue as well as payment transactions in volume and value post 2016.
In just three month after its launch in December 2015, the Indian digital payments company reported approximately Rs 0.19 crore (Rs 19 lakh) in revenue. Surprisingly, in just one year, the annual revenue of PhonePe increased an astonishing 1,489.47% in FY 2016, to Rs 3.02 crore.
PhonePe revenue in FY 2018 grew over 16x to Rs 49.03 crore. However, the company also seen a huge surge in its losses, increased from just Rs 129.01 crore in FY 2017 to Rs 791.03 crore in FY 2018.
About Phonepe: Additional Information
PhonePe Private Limited (Formerly known as FX Mart Pvt Ltd) is an Indian digital payment company, founded in December 2015 by Sameer Nigam, Rahul Chari and Burzin Engineer. The company has its headquarters in Bengaluru, India.
In April 2016, PhonePe was acquired by Flipkart – the India’s biggest e-commerce platform.
PhonePe, the first mobile wallet app that integrated Unified Payments Interface (UPI), went live on Google Play Store in August 2016 and the iOS App Store in January 2017.
With currently over 60 million MAUs in India, PhonePe app allows people to send and receive money, recharge mobiles and data cards, make utility payments, order food online, book Ola rides, movie tickets, IRCTC train, flights and Redbus tickets, etc.
On January 31, 2018, PhonePe announced a strategic partnership with FreeCharge, another digital payment company. This partnership has empowered over 45 million users to link their existing FreeCharge wallets to the PhonePe app. The company’s other strategic partnerships include redBus (Feb 26, 2018), Ola (June 28, 2018), Jio Money, Airtel Money, etc.
The above graph is a part of Dazeinfo GraphFarm – the most trusted source of hundreds of thousands of market graphs. Our team of researchers mines millions of data points every month to bring the most updated and validated set of data points representing the comprehensive view in a graphical format. From mobile to e-commerce, from Retail to healthcare, from startups to SMEs we have carefully designed thousands of graphs for those who value and understand the importance of data visualisation.