The digital payment app Phonepe is founded by Sameer Nigam. His bright mind pioneering leads to the formulation of a digital wallet that facilitates the process of making payments online. He heads the position of Chief Executive officer at Phonepe. The co-founder Rahul Chari as well as Nigam’s effort provide ease to the world.
About Sameer Nigam
Sameer Nigam was born in 1978 in Noida. He migrated from Noida to Mumbai. Sameer is an Indian entrepreneur. Nigam is one of the top Indian Businessmen. Sameer currently lives in Bangalore, Karnataka.
He excelled in his schooling at DPS Noida. Nigam did Computer Engineering at the University of Mumbai. He traveled abroad to follow up his further studies. From the University of Arizona, he acquired his degree Masters of Science in Computer Engineering in the year 1991-2001. He pursued his studies from the Wharton School University of Pennsylvania in Master of business administration in entrepreneurship in the year 2007-2009. He was knowledge inquisitive from the beginning.
He established his first venture in 2009 Mime360 which bridges the gap between content owners as well as content publishers. It was also an online business that distribute online media. The headquarters of Mime360 is located in Mumbai, India. This venture facilitates the content publishers to publish their licensed writing globally at a reasonable cost. API feeds provide sought of security to mime360.
Flipkart acquired mime this was done to expand mime even more. After this many employees working at mime become part of Flipkart. Before opening his venture he served at Shopzilla holding the designation of the Director of Search Product Development.
Steps to success
Sameer Nigam provides his proficient services to Flipkart in the year 2011 to 2015. He here served at several designations. His First foremost service was to the Marketing and Engineering department as Vice President as well as Senior Vice President respectively.
Then sameer got familiar with the problem of a wide gap between what the Markets were capable of as well as what technologies were capable of delivering to consumers. Then he asked numerous banks to do open payments but all deny. He stops focusing on all that after that he realized that if Unified Payment Interface goes live in India there will be a chance that more than 500 people would use digital payment
Then Sameer launched his venture of Phonepe in December 2015 along with his two friends Rahul Chari as well as Burzin Engineer brought. Thus, the capsulate idea of all resulted in a very positive sense.
The app is based on UPI. The company had its headquarters in Bangalore, Karnataka at Ashford Park View. It supports digital payments, financial services, advertising, merchant payments. It also facilitates customers with the facility to book Ola Rides, pay Redbus tickets as well as book flights, hotels online. The app has crossed the 100 million user mark in June 2018 in 2019 it reached a peak with 5 million transactions.
Now it has over 280 million users. Phonepe is licensed by the Reserve Boo of India for issuance as well as operation of a semi-closed prepaid system. The company launched its Phonepe ATM in January 2020. The company has reached glorious heights of success. He made a personal investment in an organization called Artificial on 14 January 2016.
Besides being a successful entrepreneur, he is a man of wisdom as well as a kind soul too. In times of pandemic where people were hit hard, he rose financial help to them. During the Covid-19 pandemic in India, Phonepe donated to PM care funds IforIndia through their app the app contributes rupees 10 beside every user to pay to PM Cares. with a to donate a total amount of around 100 crores.
Awards and recognition
He had a commendable career journey as well as fascinated everyone with his startup. The Wharton Business School, University of Pennsylvania awarded him with Wharton Venture Award in 2008. He attended money 20/20 Asia 2019 as a speaker on 19 March 2019 which was carried out in Central Region, Singapore, Asia.
His company honored many awards it is recognized as the National Payment Corporation of India. Phonepe received awards like Best mobile payment product or service Category, UPI digital Innovation Award from NPCI, Superstartup Asia Award, Telecom, as well as technology category award, best mobile payment product or service at 9th Indian Digital Awards 2019 As well as Best Digital wallet, many more.
Net worth of Sameer Nigam
As of 2017, his net worth was rupees 17.7crore a. The company earns revenue of 427 crores as of 2019-2020.
“We believe India is at the Cusp of a new mobile revolution, which will change the way we manage our money on the Go. We see
The Inspiration Story of Sameer Nigam Makes a good impact on Youngster life.