Explore the latest news, in-depth reports, and executive analysis tagged with #Phonepe.
The round also saw participation from WYSER, CDM Capital and Seedstars.
The round also saw participation from Premji Invest and existing investors Peak XV Partners, GV and Y Combinator.
Total expenses of the fintech startup grew 130% to Rs 557 crore in FY26 from Rs 242 crore in FY25.
NeoGrowth’s total expenses fell 6.8% to Rs 687.69 crore in FY26 from Rs 738.19 crore in FY25.
The shares were bought by BofA Securities at Rs 316 apiece.
The company's net profit increased 53.8% to Rs 724.70 crore in Q2 FY27.
The latest transaction follows an earlier sale in August, when Qualcomm sold 75 lakh Shadowfax shares for Rs 183.85 crore at an average price of Rs 245.13 per share.
The company, however, added that it remained adjusted EBITDA positive at Rs 33 crore, excluding non-cash ESOP costs.
![UPI MDR Delay: PhonePe meets govt officials; NPCI Steering Committee Meeting cancelled today [Exclusive]](/upload/theheadandtale.com/2026/10/1791547094_aa1c7337de_upi_2.jpg)
With NPCI also holding meetings with government departments, uncertainty over the October 15 rollout continues, sources say.
The startup will use the fresh capital to expand its wealth and investment teams, strengthen its technology platform and build its investor education ecosystem.
Total expenses of the company declined 12% to Rs 376.8 crore during the fiscal from Rs 426.7 crore in FY25, aided by a sharp reduction in impairment costs.
In August, PhonePe accounted for a 45.64% share of UPI transaction volume, followed by Google Pay at 32.26% and Paytm at 8.03%.
Niyo’s total operating expenses grew 20% to Rs 201 crore in FY26, compared with Rs 168 crore in the previous fiscal.
The average ticket size for digital NBFC loans stood at Rs 18,802, up around 15% from FY26.
The cohort also includes founders with backgrounds at companies such as Airbnb, Microsoft Research, Google and India's recently minted unicorn Sarvam AI.
AutoPe Payment Solutions earlier used to run and manage IRCTC's i-Pay offering. The mandate is now won by another payments company.
The Bengaluru-based startup will use the fresh capital to strengthen its technology and product capabilities and expand its experience supply across existing markets.
The proposals are open for stakeholder comments until October 25, 2026.
UPI's new 0.4% MDR grabbed headlines, but the real story is who profits. By our estimates, the top three UPI apps could get up to 40% of the MDR split.
The other co-founder Tanmay Sagar is now the chief operating officer of OTPless.
