People · Financial Services

PhonePe appoints new CTO, sees multiple executive exits

What they do

PhonePe is a digital payments and fintech platform offering UPI, insurance, lending, and more

Srijon Biswas becomes CTO; Rahul Chari moves to CPTO; Vishal Gupta, Ujjwal Jain, and Akash Dongre exit

The reshuffle comes as PhonePe paused its IPO plans in March 2026 due to market volatility

PhonePe appointed Srijon Biswas as its new CTO, effective 8 July 2026.
Srijon Biswas will lead the engineering organisation and report to co-founder Rahul Chari.
Rahul Chari moves from CTO to CPTO (Chief Product and Technology Officer).
As CPTO, Chari oversees product, technology, trust & safety, data science, customer experience, and strategic initiatives.
Vishal Gupta resigned as CEO of PhonePe Insurance Broking Services to launch a stealth startup.
Ujjwal Jain stepped down as CEO of Share.Market and wealth management in May 2026 to start Atyx.ai.
Akash Dongre, co-founder and CPO of Indus Appstore, left PhonePe in June 2026.
Sonika Chandra, CBO of consumer payments, takes additional responsibility for the insurance business after Gupta's exit.

PhonePe filed an updated DRHP with SEBI in January 2026 for an IPO.
The company paused IPO plans in March 2026 citing geopolitical tensions and global market volatility.
The IPO is structured as an offer for sale: existing shareholders to sell up to 50.7 million shares, no fresh issue.
Walmart plans to trim its stake; Tiger Global and Microsoft are set to exit through the IPO offering.

PhonePe is a digital payments and fintech platform.
It offers UPI, payments, mutual funds, gold, silver, insurance, lending, travel, recharges, bill payments, NPS, RD, gift cards, FASTag, credit cards, NRI payments, and international payments in Singapore, UAE, Nepal, Sri Lanka, Bhutan, and Mauritius.
Beyond payments, PhonePe runs lending, insurance distribution, Share.Market (stockbroking and mutual funds), and Indus Appstore.
PhonePe received an insurance broking licence from IRDA in August 2021.
It sold about 18.49 million insurance policies through September 2025.
PhonePe has over 700 million (70 crore) life-to-date registered users as of April 2026.
Its digital payments acceptance network covers over 5 crore merchants as of April 2026.