PhonePe doubles down on financial services; CEOs appointed for lending, insurance and wealth businesses
Fintech giant PhonePe is focusing on expanding its financial services offerings and has appointed CEOs for its lending, insurance, and broking businesses. Hemant Gupta will head the lending business, Vishal Gupta will lead the insurance business, and Ujjwal Jain will spearhead the wealth and broking business. The company recently entered the stock broking sector with its app, "Share.Market." PhonePe has crossed 500 million registered users and achieved a 77% growth in consolidated revenue for FY23. The company is valued at $12 billion.