In no hurry to launch IPO, will go public when it makes sense: Phonepe CEO

Phonepe, which on Thursday launched Phonepe Pulse — India’s first interactive platform with data, insights, and trends on digital payments, said it is in no hurry to launch its IPO and will go public “when it makes sense” for the company.

Sameer Nigam, founder and CEO, Phonepe, said, “We have never been in a hurry to get to an IPO. We are getting deeper into financial services. Phonepe someday (has) to become a public listed company. Markets are cyclical,” said Nigam. “Do I have any FOMO (fear of missing out) to go to the IPO, for any reason other than the governance part of it, zero. I will keep saying that every time people ask me, I don’t care when a competitor goes public, I wish them best of luck. We’ve just scratched the surface.”

The fintech major is in a fierce battle with rivals — Google Pay, Amazon Pay, and

Alibaba-backed Paytm — which are making significant inroads into the financial services market as well as payments in the country.

Nigam also said the company is not worried about competition. He said that if we were worried, we wouldn’t have started the firm with an interoperable system where it knew hundreds of companies would compete.