4 COMPANIES MUMBAI | MONDAY, 7 DECEMBER 2020 1 > PhonePe eyes rural mkt with $700-mn war chest PEERZADA ABRAR Bengaluru, 6 December “ASLONGASWEREMAINHUNGRY ometime this year, as the country ANDAGILEASASTART-UPTO BETHE was dealing with the Covid-19 FIRSTTO GETINTO RURALINDIAAND S pandemic challenge, Sameer DOALOTOFOTHERTHINGSAS Nigam (pictured), founder and chief AMARKETLEADER,ITHINKWE'LL executive officer of PhonePe, adopted a stray cat he found hiding under his car. BEFINE” “It was raining. It came out as soon as I turned on the ignition switch. I took it home,” said Nigam, who is now able to spend time with the cat and also work from home. “Work-from-home is the only reason my wife allowed me to get the cat into the house,” he chuckled. Despite most of PhonePe’s employ- ees working remotely, the digital pay- ment firm has been able to turn the Covid-19 pandemic challenge into an opportunity. PhonePe recently crossed the 250- million registered user milestone, with over 100 million monthly active users OLYMPIC OILINDUSTRIESLIMITED generating nearly 1 billion digital pay- Regd.Off:709, CWing,One BKC, Near Indian OilPetrol Pump,GBlock, ment transactions in October alone. It Bandra- Kurla Complex, Bandra(East) Mumbai -400051 WHAT’S IN PHONEPE’S WALLET Tel: 91 22 2654 0901 Fax: 91 22 2652 0906 is targeting at crossing 500-million reg- E-mail ID:
[email protected] Website: www.olympicoil.co.in istered users by December 2022. > $340 billion: Projected size of financial raise at a $5.5-billion valuation from CIN L15141MH1980PLC022912 “Digital payment volumes have services market in the next few years existing Flipkart investors, led by US NOTICE OF THE 40th ANNUAL GENERAL MEETING THROUGH VIDEO CONFERENCING exploded during Covid,” said Nigam, in giant Walmart AND REMOTE E-VOTING, REMOTE E-VOTING INFORMATION AND BOOK CLOSURE ETC.