In a major secondary transaction that highlights the growing maturity of India’s fintech ecosystem, the cofounders of PhonePe sold shares worth approximately INR 4,000 crore to global growth equity firm General Atlantic in September, according to people familiar with the development. The deal, one of the largest founder-led share sales in the Indian startup landscape, reflects both a partial liquidity event for the founders and continued institutional confidence in PhonePe’s long-term growth story.
The share sale involved PhonePe’s founding team—Sameer Nigam, Rahul Chari, and Burzin Engineer—who collectively divested a portion of their holdings to General Atlantic. Sources said the transact
...
