PhonePe scales lending distribution as it readies next phase of growth
With UPI monetisation limited by zero MDR, PhonePe is expanding lending, wealth and insurance ahead of a planned IPO. The platform is facilitating about ₹2,000 crore in monthly loan disbursals through 56 lending partners and has applied for an NBFC licence.
PhonePe is scaling loan distribution ahead of a planned IPO, facilitating about ₹2,000 crore in monthly disbursals. With UPI monetisation constrained by zero MDR, it is expanding lending, wealth and insurance while awaiting approval for an NBFC licence.
Why this matters
PhonePe's lending push follows FY26 signals showing revenue rose 11.5% to ₹7,920 crore while reported loss widened 62% to ₹2,792 crore, increasing the need for scalable non-UPI revenue streams.
Retail-company signals are accelerating, up 575500% QoQ.