The Relationship Tips
Take a fresh look at your lifestyle.

PhonePe acquires homegrown Indus App Bazaar for Rs 438 cr


PhonePe grabs 6 sponsorships for IPL 2021

New Delhi: Walmart-owned digital payments provider PhonePe has acquired homegrown Android app store Indus App Bazaar for $60 million (roughly Rs 438 crore), reliable industry sources told IANS on Wednesday.

The move, sources said, will strengthen PhonePe’s ‘Switch’ app that aggregates several useful apps at one place.

When contacted, both the companies did not divulge any details at the moment.

PhonePe launched the Switch platform in 2018 and today, its customers can place orders on over 300 apps including Ola, Swiggy, Myntra, IRCTC, Goibibo, RedBus etc. directly from within the PhonePe mobile app.

PhonePe is accepted at over 17.5 million merchant outlets across 500 cities nationally.


Indus OS was founded by IITians, Rakesh Deshmukh, Akash Dongre, and Sudhir Bangarambandi in 2015.

The company is known to make innovative products like Indus App Bazaar which serves over 100 million users.

Available in 13 languages, it houses over 400,000 apps. The core aim of Indus App Bazaar is to democratize the use of mobile applications for the world starting with India with an enhanced app store ecosystem (EASE).

Indus OS has raised nearly $20 million to date.

On the other hand, PhonePe has over 280 million registered users.

PhonePe forayed into financial services in 2017 with the launch of Gold providing users with a safe and convenient option to buy 24-karat gold securely on its platform.

Get the latest updates in Hyderabad City News, Technology, Entertainment, Sports, Politics and Top Stories on WhatsApp & Telegram by subscribing to our channels. You can also download our app for Android and iOS.

Subscribe to our newsletter
Sign up here to get the latest news, updates and special offers delivered directly to your inbox.
You can unsubscribe at any time
Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

We would like to show you notifications for the latest news and updates.
Allow Notifications