PhonePe

Active#1 in India

UPI payments and financial services

Fintech›UPI payments and financial services

Founded2015

HQBengaluru

RaisedUSD >1.5bn

Last roundPre-IPO (largely secondary) · Oct 2025

Country of originIndiaListed in the India ranking

Where would you invest?PhonePe Ltd, HQ Bengaluru; redomiciled from Singapore in 2022Jurisdiction as cited by the ranking

Uback rankings

How the AI ranks →

Ranking	Tier	Rank	Edition	Next update
India · all sectors	Top 50	#1	Edition 0 – beta · October 2026	2 Jan 2027
Mobile wallets · worldwide	Top 11	#4	Edition 0 (beta) · Sep 2026	25 Mar 2027

Rank historySep 2026 · #4 Mobile walletsOct 2026 · #1 India

Estimated valuation

AI · India ranking

≈ USD 14bnUSD 12–18bn · Decacorn High confidence

Hundreds of k$

Millions $

Tens of M$

Hundreds of M$

Unicorn

Decacorn

Anchor: Last known equity round: Pre-IPO round · USD 600M · Oct 2025
Published valuation: USD 14.5bn · Oct 2025
AI adjustment: None

In the Mobile wallets ranking (worldwide): ≈ USD 9.5bn · USD 6.3–14bn · Unicorn · Medium confidence.

An indicative editorial estimate produced by AI, imperfect by nature: neither a financial valuation nor investment advice. Only the market sets a company’s value. Method

Funding history

USD >1.5bn raised in total

Date	Round	Amount	Type	Investors	Source
Oct 2025	Pre-IPO (largely secondary)	USD 600M	Equity	General Atlantic	india.entrepreneur.com
2023	Primary funding (2023 series)	undisclosed in sources opened	Equity	General Atlantic	techcrunch.com

Rounds as cited by Uback’s rankings and their sources. Equity, debt and grants are shown separately; only equity rounds count towards the valuation anchor.

Independent analyses

By industry professionals & analysts

Industry professionals and financial analysts can publish their own analysis of PhonePe as a PDF, on one of three angles only:

ValuationWhat is PhonePe worth?

Versus competitorsIs #1 the right rank?

Who should acquire itStrategic buyers, and why

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Analyses are the opinion of their authors, not of Uback. They are checked before publication and never change the rank.

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What the AI reads

Press & investor announcements3 sources

Read by the AI at the next edition.

Comparable companies in India

Full India ranking →

CRED#3Fintech › credit-card payments and rewardsUnicorn Razorpay#12Fintech › payment gateway and business bankingUnicorn BharatPe#13Fintech › merchant QR payments and lendingUnicorn KreditBee#18Fintech › digital consumer lendingUnicorn

Investors in PhonePe: General Atlantic

Sources. india.entrepreneur.com · techcrunch.com · bwdisrupt.com

Last updated: Oct 2026Report an error

Uback is a content publisher. It provides no investment advice, receives no mandate and takes part in no transaction. Rankings, ranges and brackets are editorial estimates produced by AI, purely indicative.