PhonePe, a digital payments company with backing from Walmart, has entered the stock broking sector with the introduction of its new app called “Share.Market.” This app offers users the opportunity to participate in trading and investment activities, including stocks, mutual funds, and exchange-traded funds (ETFs).
The CEO and Founder of PhonePe, Sameer Nigam, revealed this development and highlighted that the stock broking services are being launched through their subsidiary, PhonePe Wealth. PhonePe embarked on its venture into India’s competitive stockbroking arena in 2021, pending regulatory approval from the Securities and Exchange Board of India (SEBI). Notable players in this domain currently include Zerodha, Groww, and Upstox.
This accomplishment comes on the heels of PhonePe’s recent infusion of $100 million in funding from General Atlantic and other co-investors. Earlier in the year, the company had secured funding of $100 million from Ribbit Capital, Tiger Global, and TVS Capital Funds, followed by an additional $200 million in primary capital from Walmart in March.
Also Read: Top Executives, Including Byju’s Chief Business Officer Prathyusha Agarwal, Step Down From Company
India wins the Asia Cup 2025 final against Pakistan by 5 wickets at Dubai International…
Putin lauds India’s rapid growth under PM Modi, strengthening bilateral ties and strategic global partnerships.
ACC approves senior IPS officers’ promotions to Special Director General roles, strengthening leadership in India’s…
PM Modi meets Vice President CP Radhakrishnan to discuss a wide range of issues, highlighting…
BRICS leaders denounce Pahalgam attack, while Jaishankar calls for UN reform, multilateral cooperation and global…
Follow live updates and key insights ahead of the Asia Cup 2025 final as India…