PhonePe & Flipkart Completely Separate from Each Other

New Delhi: Flipkart and PhonePe have announced the full ownership separation of PhonePe on December 23.

“Flipkart and PhonePe are proud, homegrown Indian brands with a user base upwards of 400 million each. We are looking forward to the next phase of our growth as we invest in new businesses – like insurance, wealth management and lending,” said Sameer Nigam, Founder and CEO at PhonePe.

“The Flipkart Group has developed many successful entrepreneurs and seen impactful businesses started by former employees. We are proud to see PhonePe grow and thrive as a successful organization in its own right,” said the CEO of Flipkart Group, Kalyan Krishnamurthy.

Walmart will remain the majority shareholder of both companies.

PhonePe was acquired by Flipkart in 2016. A partial separation of these two companies was announced on December 2020.