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PhonePe enters quick commerce via Pincode: Report

EntrackrEntrackr · 1y ago
PhonePe enters quick commerce via Pincode: Report
Medial

PhonePe enters quick commerce via Pincode: Report Walmart-backed PhonePe is set to enter the quick commerce market through its e-commerce venture, Pincode, according to a media report. This marks the third attempt by the Sameer Nigam-led company in online retail. In April last year, PhonePe's Pincode app exited non-food categories on the Open Network for Digital Commerce (ONDC). It now offers only food delivery and unreserved ticket booking on ONDC. According to a report by ET, Pincode has fully pivoted to the quick commerce model, launching 15-minute deliveries in select areas of six cities: Bengaluru, Mumbai, New Delhi, Pune, Hyderabad, and Varanasi. The company plans to expand its coverage to about 25% in these markets in the coming weeks, with the full service rollout expected between April and June 2025. Entrackr has reached out to PhonePe for comments. Following Flipkart, PhonePe will be the second company from the same group to venture into the instant delivery market, with Zomato and Blinkit being other notable examples in this space. In recent months, both established and emerging companies have entered the quick commerce sector. Blinkit, Zepto, and Instamart lead the market, while newcomers like Flipkart, BigBasket, and Amazon are expanding their presence. Beyond groceries, there's a growing trend of 10-15 minute food deliveries, with Swiggy, Zomato, Blinkit, Zepto, Ola, and Magicpin sequentially announcing their entry into this space.

PhonePe pre-IPO reset: Rs 3,937 Cr founders’ secondary; Rs 1,500 Cr hit from credit card rent, RMG exits

EntrackrEntrackr · 18d ago
PhonePe pre-IPO reset: Rs 3,937 Cr founders’ secondary; Rs 1,500 Cr hit from credit card rent, RMG exits
Medial

PhonePe pre-IPO reset: Rs 3,937 Cr founders’ secondary; Rs 1,500 Cr hit from credit card rent, RMG exits As PhonePe moves closer to its public listing, its updated draft red herring prospectus (DRHP) highlights how regulatory developments and shareholder liquidity events have reshaped the company’s revenue mix over the past year. The filing shows that PhonePe has witnessed secondary share transactions worth Rs 5,771 crore since 2023. A significant portion of this came in September 2025, when co-founders Sameer Nigam and Rahul Chari undertook a secondary sale worth Rs 3,937 crore, with shares bought by General Atlantic. The transaction offered partial liquidity to the founders ahead of the IPO. Alongside these shareholder exits, PhonePe has also exited certain payment categories following regulatory intervention. According to the DRHP, the company discontinued credit card payment services for rent and related categories in September 2025 after receiving regulatory communication from the Reserve Bank of India (RBI) under the payment aggregator framework. The impact of this move is visible in the numbers. Revenue from rent and related categories stood at Rs 518 crore in the six months ended September 2025, while the segment contributed Rs 1,262 crore in FY25. During FY25, rent-related payments accounted for 8.92% of PhonePe’s total gross margins. PhonePe has also exited revenue streams linked to real money gaming (RMG) following legislative changes. As per DRHP, the company ceased generating revenue from advertising and payment gateway services associated with RMG after the enactment of the Promotion and Regulation of Online Gaming Act, 2025 on August 22, 2025. Consequently, PhonePe’s financials from October 2025 onwards exclude any contribution from the segment. RMG revenue stood at Rs 70 crore in H1 FY26, while the segment contributed Rs 245 crore in FY25. With both rent-related payments and RMG now excluded from its business, PhonePe has effectively shut down revenue streams that together contributed Rs 1,512 crore in FY25. The exit of these categories is expected to have a bearing on the company’s near-term financial performance, even as it sharpens its focus on core UPI payments and financial services in the run-up to its IPO.

Quick commerce to contribute $1B in GMV during festive season: Shiprocket

YourStoryYourStory · 1y ago
Quick commerce to contribute $1B in GMV during festive season: Shiprocket
Medial

Shiprocket, an ecommerce enablement platform, predicts that quick commerce will drive demand and contribute $1 billion in gross merchandise value (GMV) this festive season. The Indian festive ecommerce market is expected to grow by 23% during the months of October to December, reaching $12 billion in comparison to $9.7 billion the previous year. This growth will stem from consumer demand in categories such as fashion, electronics, beauty, and personal care. Shiprocket notes that the increased digital penetration in Tier II and Tier III cities is a key driver, with 60% of online festive orders expected to come from non-metro areas. The country's ecommerce export market is also set to surge, potentially reaching $200-300 billion by 2030.

BharatPe makes another management rejig across verticals

EntrackrEntrackr · 1y ago
BharatPe makes another management rejig across verticals
Medial

Fintech firm BharatPe is going through another transformation to strengthen the leadership team across three verticals, sources aware of the development told Entrackr. For the uninitiated, BharatPe runs three entities – Resilient Innovations Private Limited (merchant app), Resilient Payments Private Limited (Payment unit), and Resilient Digi Services Private Limited (lending unit). Sandeep Indurkar will now step up as the CEO of the payments vertical, one of the sources told Entrackr. Indurkar was earlier chief business officer of the banking vertical at the company. Also Read: BharatPe to launch new entity BharatPe Money for lending vertical As per sources, Kohinooor Biswas will now manage loyalty division Zillion (part of RDSPL) in addition to his existing responsibilities. “Rijish Raghavan, who was earlier acting as CEO of Zillion, will now head BharatPe’s device business,” added another source. Sources also further said that the trio will continue to report to Nalin Negi, the interim CEO of BharatPe. In a nutshell, Indurkar will be heading the payment unit (RPPL), Kohinoor will be heading RDSPL, and Nalin will continue to lead the merchant unit (RIPL). A BharatPe spokesperson confirmed the development but did not comment further. Amid high profile exits in 2023, BharatPe also announced key hirings during the last year. In July, it appointed Pankaj Goel as its chief technical officer (CTO). The company filled the position of CTO after a gap of seven months whereas its CFO Nalin Negi has been acting as an interim CEO since January last year. The new changes in leadership came soon after BharatPe completed its $100 million debt round from InnoVen Capital and Credit Saison. Entrackr exclusively reported the development in January. Financially, BharatPe is also getting back on track as the firm recorded its first profitable month in October 2023. The company claimed that its annualized revenue crossed Rs 1,500 crore, marking over 30% growth as compared to FY23. In FY23, it crossed Rs 1,000 crore revenue mark while its EBITDA loss went up 9% to Rs 772 crore.

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