PhonePe just released its first annual report, and it is ultra astonishing to see yoy growth in revenue, from INR 184 Cr in FY 18-19 to INR 5,064 Cr in FY 23-24, which indicates a CAGR of 94%.

PhonePe just released its first annual report, and it is ultra astonishing to see yoy growth in revenue, from INR 184 Cr in FY 18-19 to INR 5,064 Cr in FY 23-24, which indicates a CAGR of 94%.

Such as transformation from a loss of INR 1,513 Crores in FY 18-19 to a profit of INR 197 Crores in FY 2023-2024.

Standalone payments business, which everyone else in ecosystem find hard to monetize by itself, achieved a profit of INR 710 Crores in FY 23-24. Despite, Zero MDR, PhonePe is really killing it.

Few other things that I found interesting
-> Always knew PhonePe has good chunk of tier 2-3 customers but it has over 80% of users & merchants that are located outside the top 8 districts of India.
-> ~99% retention rate for its consumer app in 30-day period.
-> To promote transparency they have launched PhonePe Pulse, an open-source data repository that provides detailed information about digital payment trends in India, down to the PIN code level.
-> Vision for the future is deeply intertwined with Indian govt economic aspirations.

Pre IPO & IPO investors brace yourselves :)

Fintech India

This post was originally shared by Priyank Boob on Linkedin.