PhonePe underscores India-first commitment in its annual report
By MYBRANDBOOK
PhonePe has released its inaugural annual report, providing a comprehensive overview of the company's vision, strategy, governance, and financial performance. The report highlights PhonePe’s commitment to transparency and accountability while showcasing its approach to delivering innovative financial solutions for India.
The report highlights PhonePe’s India-first ethos and vision. From moving its domicile to India to creating over twenty thousand jobs nationwide, embracing India's DPI initiatives early, and making industry-leading investments in the Indian internet ecosystem, PhonePe has been committed to driving financial inclusion and digital growth in the country, it said. Looking ahead, PhonePe says it'll continue to deliver homegrown solutions that empower the next generation of digital natives in India.
PhonePe says it aims to create a multi-generational Indian company that employees, customers, partners, and investors are proud of. With an experienced leadership team, marquee investors, and a professional Board of Directors, the company prioritizes long-term sustainable growth, and strong governance and compliance. PhonePe Group runs multiple businesses across financial sectors and is regulated by RBI, SEBI, IRDAI, and UIDAI.
The report highlights the core platforms driving innovation and outlines PhonePe’s strategy for ensuring tech resilience and scalability in a dynamic market. It provides insights into the future of the payments industry, identifying key trends and challenges. It also details PhonePe’s operating and financial performance, including standalone and consolidated financial statements that showcase the company's growth.
Sameer Nigam, CEO and Founder, PhonePe, said, "At PhonePe, our goal is to build Internet platforms that empower Indian citizens to improve their lives and achieve their aspirations. We believe continuous innovation is key to shaping a modern, developed economy by India’s 100th anniversary of independence. Free market competition, driven by product innovation and service excellence, is the future. Transparency is central to this, which is why we are proud to release our first annual report. We hope that it will give readers a better understanding of our operating philosophy, culture and governance model, and our business strategy."
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