IPO only after achieving overall profitability: PhonePe CEO Sameer Nigam

We have raised $650 million as part of PhonePe's ongoing fundraise of up to $1 billion, said Sameer Nigam, CEO and founder of PhonePe

At a time when a growing number of tech firms have halted their expansion plans, fintech giant PhonePe is making new bets and is in an expansion mode, says Sameer Nigam, CEO and founder of PhonePe, in an interview with Peerzada Abrar.

The Walmart-owned firm which recently achieved a pre-money valuation of $12 billion in a mega funding round has launched a new Shopping app called “Pincode”, built on top of the ONDC platform. Nigam said Pincode is a new approach to e-commerce, which puts all the local stores and sellers at the heart of the digital shopping growth story.