As part of the acquisition, GigIndia, which has 1.5 million entrepreneurs and more than 100 enterprises as customers, will integrate with PhonePe, the company said in a statement.
Digital payment platform PhonePe announced on Monday that it has acquired GigIndia, a network for freelance micro-entrepreneurs.
As part of the acquisition, GigIndia, which has 1.5 million entrepreneurs and more than 100 enterprises as customers, will integrate with PhonePe, the company said in a statement.
It did not disclose the size of the buyout.
PhonePe would leverage GigIndia’s network of freelance micro-entrepreneurs to help businesses and enterprises acquire more customers and scale their distribution channels.
The acquisition will also strengthen PhonePe’s offering and value proposition to its business and corporate partners.
By some estimates, India’s freelance community space is expected to grow to $20-30 billion by 2025, the release said.
Commenting on the acquisition, Vivek Lohcheb, Head of Offline Business at PhonePe said: “We are delighted to welcome the GigIndia team to PhonePe and leverage their domain expertise to provide value-added services to our business partners, enabling them to can scale, expand and grow your business.” Sahil Sharma, CEO of GigIndia, said PhonePe is a leader in digital payments and added: “We are delighted to be working with them”.
“GigIndia is a trusted partner for high-growth enterprises across India and in PhonePe we have found a like-minded partner who supports our vision,” he added.
This post PhonePe Announces Acquisition of GigIndia
was original published at “https://www.financialexpress.com/industry/phonepe-announces-acquisition-of-gigindia/2466898/”
