PhonePe Names Srijon Biswas CTO As Cofounder Rahul Chari Shifts To CPTO
PhonePe elevated Srijon Biswas to CTO while cofounder Rahul Chari takes on a combined CPTO role, amid multiple leadership exits and a paused ₹12,000 Cr India IPO. The UPI leader grew revenue to ₹7,114.8 Cr in FY25 but posted a ₹1,727.4 Cr net loss.
What happened
PhonePe elevated Srijon Biswas to CTO while cofounder Rahul Chari becomes CPTO, amid multiple leadership exits and a paused India IPO. UPI payments leader
Key facts
- IPO ₹12,000 Cr ($1.35 Bn)
- valuation ~$15 Bn
- H1 FY26 net loss ₹1,444.4 Cr
- H1 FY26 revenue ₹3,918.5 Cr
- FY25 revenue ₹7,114.8 Cr
- FY25 net loss ₹1,727.4 Cr
- 5 Cr+ shares OFS
Why this matters
Leadership churn and a stalled IPO at the ~$15 Bn UPI leader open a window to watch for partnership, talent, or strategic positioning moves while its listing remains on hold.
What to watch
- Formal IPO timeline update or DRHP refiling
- FY26 quarterly loss trajectory and revenue mix shift
- UPI market share data vs Google Pay/others
- Additional C-suite exits or new hires (CFO, CBO)
- Regulatory moves on UPI market-share caps or MDR reintroduction
- Watch for further senior departures or backfills across finance/product to gauge stability
- Expect cost-rationalization messaging emphasizing path to profitability
- Monetization push beyond zero-MDR UPI into credit, distribution, and merchant services
- Investor/board communications reaffirming IPO timeline