Skip to main content

New Page

Okay, this is an excellent and comprehensive assignment! Let's break down the process of creating a high-quality pitch deck for PhonePe Private Limited, adhering to industry standards. I'll guide you step-by-step, like a detailed project plan.

Understanding the Goal:

The objective is to create a persuasive document (the pitch deck) that showcases a thorough understanding and analysis of PhonePe. Even though you're not actually pitching for investment, the structure and content should mirror what an investor or stakeholder would expect.

Our A-Z Journey: Phases and Steps

We'll go through this in logical phases:

  1. Phase 1: Deep Dive Research & Information Gathering (The "Get & Fetch")
    • This is where we become experts on PhonePe and its ecosystem.
  2. Phase 2: Structuring the Narrative & Analysis (The "Organizing")
    • This involves outlining the pitch deck and deciding where each piece of information fits. We'll also conduct the SWOT, Porter's, and PESTEL analyses here.
  3. Phase 3: Content Creation & Design (The "Presentation")
    • This is where we write the actual content for each slide and think about visual presentation.
  4. Phase 4: Review & Refinement (The "Polishing")
    • Ensuring accuracy, flow, and impact.

Let's start with Phase 1: Deep Dive Research & Information Gathering.

Step 1.1: Initial Broad Search - Understanding PhonePe and the Indian Fintech Landscape

We need to build a foundational understanding. I'll start by generating some initial search queries.

Okay, that's a good set of initial search results. Here's what we've gathered and what we should focus on next for each section of the pitch deck:

A. Company & Industry Overview

  • PhonePe Company Information:
    • Founding: Founded in December 2015 by Sameer Nigam, Rahul Chari, and Burzin Engineer, ex-Flipkart employees.
    • Headquarters: Bengaluru, Karnataka, India.
    • Acquisition by Flipkart: Acquired by Flipkart in 2016. Parent company is now Walmart.
    • Services: Digital payments (UPI, wallet, money transfer, bill payments, recharges), financial services (insurance, mutual funds, gold/silver investment, lending), merchant services (POS devices, QR codes, payment gateway), and newer ventures like Pincode (hyperlocal e-commerce on ONDC), Share.Market (stock broking), and Indus Appstore.
    • Reach: Over 500-600 million registered users. Digitized over 30-37 million merchants. Operates in 11 Indian languages.
    • Mission/Vision: To make digital payments easy, safe, and universally accepted, driving financial inclusion.
    • Key Milestones: First UPI app to surpass 1 billion transactions. Reached 100 million users in 2018, 300 million in 2021.
  • Indian Fintech/Digital Payments Industry Information:
    • Growth: Rapidly expanding, projected to grow significantly in volume and value. UPI is a dominant force, accounting for over 80% of retail digital payments.
    • Drivers: Rising disposable income, financial inclusion initiatives, internet and smartphone penetration, government initiatives like Digital India and UPI, and a young, tech-savvy population.
    • Market Size: Expected to reach USD 42.61 Billion by 2033, with a CAGR of 23.2% (2025-2033). Another report suggests the Indian fintech market could reach $145 billion by 2025 and potentially $600 billion by 2030. The value of all fintech transactions is projected to grow from $66 billion in 2019 to $322 billion by 2027.
    • Trends: Rise of neobanks, RegTech, contactless payments, BNPL (Buy Now, Pay Later), and increasing focus on AI, blockchain, and embedded finance.
    • Challenges: Regulatory concerns, data security, low financial literacy among some users, and cybersecurity/fraud risks.

Next Steps for "Company & Industry Overview":

  • Synthesize this information into a concise narrative for the pitch deck slides.
  • Focus on PhonePe's journey, its current scale, and the massive opportunity within the Indian digital payments and fintech space.
  • Highlight the key growth drivers of the industry that PhonePe is well-positioned to capitalize on.

Now, let's move to the next sections as per your assignment.

Step 1.2: Researching USPs, SWOT/Porters/PESTEL, Financials, Valuation, Peers, and Precedent Transactions

I will generate a new set of queries for these specific areas.

Okay, we have a wealth of information now! Let's synthesize this for each section of your pitch deck.

Phase 2: Structuring the Narrative & Analysis (The "Organizing")

Before we dive into writing the slides, let's organize the key findings for each section. This will form the backbone of your pitch deck.

1. Company & Industry Overview (Recap & Refine)

  • PhonePe: Leading Indian digital payments and financial services company, founded 2015, HQ Bengaluru. Acquired by Flipkart (2016), now Walmart subsidiary. Offers UPI, wallet, money transfer, bill payments, recharges, insurance, investments (gold, mutual funds, stock broking via Share.Market), lending, merchant solutions (POS, QR), Pincode (e-commerce), and Indus Appstore. Over 550-600M registered users, 37-40M+ merchants.[1][2][3][4][5] Vision: Financial inclusion and seamless digital transactions.[6]
  • Industry: Rapidly growing Indian Fintech. Digital payments market projected for massive growth (e.g., $42.61B by 2033, CAGR 23.2%; some reports suggest even larger numbers). [Previous Searches] UPI is dominant (over 80% of retail digital payments). [Previous Searches] Key drivers: smartphone/internet penetration, government initiatives (Digital India, UPI), rising income, young demographic. [Previous Searches] Trends: Diversification into lending, insurance, wealth tech, neobanking, AI/blockchain adoption. [Previous Searches, 4] Challenges: Competition, regulatory changes, cybersecurity, financial literacy. [Previous Searches, 6, 35]

2. USPs and Compelling Aspects of the Company

  • Market Leadership: Dominant UPI market share (around 46-50% by volume and value).[2][7][8][9][10][11][12][13][14]
  • Vast User Base & Merchant Network: Over 550 million registered users and over 40 million merchants.[2][4]
  • User-Friendly Interface: Simple, intuitive, available in 11+ Indian languages, making it accessible to diverse demographics, including those less tech-savvy.[2][15][16][17][18]
  • Comprehensive Service Portfolio (Super App Play):
    • Core Payments (UPI, Wallet, Recharges, Bill Pay).[2][19]
    • Financial Services (Insurance, Mutual Funds, Gold/Silver, Lending, Share.Market for broking).[2][3][13]
    • Merchant Solutions (QR codes, POS devices, Payment Gateway).[2][16]
    • New Ventures (Pincode for hyperlocal e-commerce, Indus Appstore).[13][20]
  • Strong Brand Recognition and Trust: "India Ka Trusted App."[21] Built through reliable service and effective marketing.[3]
  • Technological Infrastructure: Robust, scalable platform supporting high transaction volumes.[2][3] Focus on security with advanced encryption and multi-factor authentication.[15][17][21]
  • Offline Expansion Strategy: Aggressively targeted small merchants and rural areas, a key differentiator.[22]
  • Innovation: Continuously adding new features and services (e.g., PhonePe ATM concept, international UPI).[3][16] Indus Appstore challenges Google Play Store dominance with zero commission for developers initially.[13]
  • Cross-selling Opportunities: Leverages its large user base to offer various financial products and services, which is key to its monetization strategy beyond UPI (which has zero MDR).[2][13][20]

3. SWOT Analysis

  • Strengths:
    • Market leadership in UPI.[2][14][23]
    • Large and growing user base & extensive merchant network.[2][3][4]
    • Strong brand recognition and trust.[3][21]
    • Comprehensive suite of services (payments, financial services, e-commerce, app store).[2][3][13]
    • User-friendly interface and multilingual support.[2][16][17]
    • Robust technological infrastructure and security.[2][3][15][17]
    • Strategic backing by Walmart/Flipkart. [Previous Searches, 28, 37]
    • Successful offline expansion.[22]
    • Innovative product offerings (Indus Appstore, Pincode, Share.Market).[2][3][13]
  • Weaknesses:
    • High dependency on the Indian market.[3][14]
    • Profitability challenges historically (though improving, with adjusted PAT positive in FY24).[2][7][20][24] ESOP costs are significant.[25]
    • Dependency on UPI, which has zero MDR, limiting direct monetization from a core service.[2][13][22]
    • Vulnerability to regulatory changes in the dynamic Indian fintech space.[3][22]
  • Opportunities:
    • Further expansion into financial services (lending, insurance, wealth management are key focus areas).[2][3][14][26]
    • International market expansion.[2][3]
    • Growth of new ventures like Pincode (hyperlocal commerce leveraging ONDC) and Indus Appstore.[2][13][26]
    • Leveraging data analytics for personalized offerings and targeted advertising.[2] (Need to be cautious about privacy).
    • Untapped rural market potential.[4][22]
    • Increasing digital adoption and financial literacy in India. [Previous Searches]
  • Threats:
    • Intense competition from players like Google Pay, Paytm, and potentially new entrants (e.g., Jio Financial Services, other banks).[2][3][14][15][22]
    • Evolving regulatory landscape and compliance requirements (e.g., past discussions on UPI market share caps, data localization).[3][22][27][28]
    • Cybersecurity risks and data breaches.[3][4]
    • Changes in customer preferences or adoption of new technologies.[4]
    • Economic slowdown impacting consumer spending and investments.

4. Porter's Five Forces (Applied to Indian Digital Payments Industry)

  • Threat of New Entrants: Moderate to High.
    • High capital requirements for scale, brand building, and technology.
    • Network effects are strong (more users attract more merchants and vice-versa).
    • Regulatory hurdles exist (licenses from RBI etc.).[27][28]
    • However, the large market size and growth potential attract new players, including well-funded tech giants or large conglomerates.
  • Bargaining Power of Buyers (Users): High.
    • Low switching costs for users between payment apps.
    • Many free services are offered, and users are price-sensitive (expect low/no fees for basic transactions).
    • Availability of multiple platforms and offers (cashbacks, rewards).
  • Bargaining Power of Suppliers (Banks, Technology Providers): Moderate.
    • Banks are essential for UPI infrastructure and payment processing. PhonePe relies on partnerships.[16][17]
    • Technology providers (e.g., cloud services, security solutions) are crucial.
    • However, large payment players like PhonePe process huge volumes, giving them some leverage.
  • Threat of Substitute Products or Services: Moderate.
    • Traditional payment methods (cash, cards) still exist, though declining in preference for many use cases.
    • Other emerging financial technologies could offer alternative solutions.
    • However, UPI has become deeply embedded for P2P and P2M payments.
  • Intensity of Rivalry: Very High.
    • Numerous players: PhonePe, Google Pay, Paytm are the leaders, but also Amazon Pay, WhatsApp Pay, CRED, and offerings from banks.[8][9][10][11][12][15][28][29][30]
    • High competition for market share, often driven by discounts, cashbacks, and aggressive marketing.[14]
    • Rapid innovation and feature additions are necessary to stay competitive.
    • Zero MDR on UPI intensifies competition on other revenue streams.

5. PESTEL Analysis (Applied to Fintech/Digital Payments in India)

  • Political:
    • Strong government support for Digital India, financial inclusion, and cashless economy (e.g., demonetization impact, promotion of UPI). [Previous Searches, 6]
    • Stable political environment generally conducive to business.
    • Focus on data localization and digital sovereignty.
  • Economic:
    • Rapidly growing economy with increasing disposable income. [Previous Searches]
    • Large, young population adopting digital technologies. [Previous Searches]
    • Inflation and interest rate fluctuations can impact lending and investment businesses.
    • Significant foreign investment in the fintech sector. [Previous Searches]
  • Social:
    • Increasing smartphone and internet penetration, even in rural areas. [Previous Searches, 6, 28]
    • Growing consumer comfort with digital payments and online financial services.
    • Shift in consumer behavior towards convenience and speed.
    • Financial literacy levels are improving but still a challenge in some segments. [Previous Searches]
    • Diverse linguistic and cultural landscape requiring localized solutions.[2][16][18]
  • Technological:
    • Rapid technological advancements (AI, ML, Blockchain). [Previous Searches, 6]
    • Robust digital public infrastructure (Aadhaar, UPI). [Previous Searches]
    • Cybersecurity threats are a constant concern.[3][4]
    • Need for continuous innovation to stay competitive.
  • Environmental:
    • Growing focus on sustainable practices; PhonePe has launched a Green Data Center. [Previous Searches]
    • Reduced paper usage due to digital transactions can be highlighted as a positive.
  • Legal:
    • Evolving regulatory framework by RBI, NPCI, SEBI, IRDAI. [Previous Searches, 19, 21]
    • Data protection and privacy laws (e.g., Digital Personal Data Protection Act).
    • Consumer protection regulations.
    • Licensing requirements for various financial services.

6. Financial Performance

  • Revenue:
    • FY24 (ending March 2024): Operating Revenue INR 5,064 Cr (approx. $600M+), up 74% YoY from INR 2,914 Cr in FY23.[1][7][13][20][24][27]
    • Total Revenue FY24: INR 5,725 Cr (including other income like interest from funding).[7]
  • Profitability:
    • FY24: Consolidated Net Loss narrowed by 28.6% to INR 1,996 Cr (from INR 2,795 Cr in FY23).[7][25]
    • FY24: Adjusted PAT (excluding ESOP costs) turned positive to INR 197 Cr (from INR 738 Cr loss in FY23).[1][20][24][27]
    • Standalone Payments Business (Adjusted PAT): INR 710 Cr in FY24 (from INR 194 Cr loss in FY23).[1][20][24][27]
  • Key Expense Drivers:
    • Employee benefits (including significant ESOP costs: INR 1,876 Cr in ESOP expenses in FY24, part of INR 3,603 Cr total employee benefits).[7][25]
    • Payment processing charges (surged to INR 1,166 Cr in FY24).[7]
    • Marketing and advertising. [Previous Searches]
  • Growth Drivers for Revenue: Market leadership, platform reliability, cross-selling diverse product portfolio (bill payments, recharges, financial services).[13][20][27]
  • Unit Economics: Spent INR 1.53 to earn a rupee in FY24.[7]

7. Valuation Analysis

  • Last Known Valuation: $12 billion (as of its funding rounds in 2023, e.g., May 2023 by General Atlantic).[7][25][26][31]
  • Funding Rounds:
    • Raised nearly $1 billion in 2023 from General Atlantic, Walmart, Tiger Global, Ribbit Capital, TVS Capital Funds.[7][26][32]
    • Total funding raised: Around $1.01B (Tracxn data) to $2.5B (Clay, Inc42 data - likely includes more historical rounds or different classifications).[26][31][32][33] It's best to stick to the more recent, clearly cited large rounds for valuation context.
    • Series D in Jan 2023 for $658M led by General Atlantic.[31][32]
    • Other tranches in Feb 2023 ($100M), March 2023 (approx. INR 16.5B), April 2023 (approx. INR 8.2B), May 2023 ($100M).[26]
  • IPO Aspirations: PhonePe has started preparations for an IPO in India. Redomiciled from Singapore to India in December 2022.[13][25]

8. Peer Analysis

  • Main Competitors:
    • Google Pay: Strong market share in UPI (around 36-37%).[8][9][11][12][28] Does not have a wallet service; payments are direct from bank accounts.[8]
    • Paytm: Offers payments, wallet, e-commerce, financial services. Market share in UPI around 6-8%.[8][9][11][12][15][28] Has faced regulatory challenges impacting its operations recently.[28]
    • Amazon Pay: Leverages Amazon's e-commerce ecosystem.[15]
    • BharatPe: Focuses on merchant payments and financial services for merchants.[29][30]
    • MobiKwik: Digital wallet and payment gateway.[30][31]
    • Navi: Emerging player, surpassing some established names in UPI transaction volumes.[9][10][28]
    • WhatsApp Pay: Gradually expanding user base.[9][11]
    • CRED: Focuses on high-value transactions and credit card bill payments, expanding into other financial services.[9][10]
  • Market Share Comparison (UPI - often varies slightly by month/source but general trend is clear):
    • PhonePe: Leading with ~47-50% (volume and value).[2][7][8][9][10][11][12][13][14][28]
    • Google Pay: Second with ~36-37% (volume and value).[8][9][11][12][28]
    • Paytm: Third with ~7-8% (volume), ~5-6% (value).[8][9][11][12][28]
  • Key Differentiators for PhonePe (vs. Peers):
    • Largest UPI market share.
    • Extensive offline merchant network.
    • Early and strong focus on UPI from inception.[22]
    • Diversified "Super App" strategy with a wide range of services including new ventures like Indus Appstore.[2][13]
    • User-friendly interface and multilingual support.[2][16][17]

9. Precedent Transaction Case Studies (M&A and Funding)

  • M&A in Indian Fintech/Payments:
    • PayU's acquisition of BillDesk (announced 2021 for $4.7 billion, though later terminated): This was a landmark deal showing consolidation potential in the payments space.[34] (Important to note the termination but still relevant for scale of ambition).
    • Piramal's acquisition of Dewan Housing Finance ($4.7 billion, 2021): Financial services consolidation.[34]
    • Axis Bank's acquisition of Citibank's Indian consumer business ($1.6 billion, 2022).[34]
    • HDFC and HDFC Bank merger ($40 billion, 2022): Major financial services consolidation.[34]
    • Smaller, strategic acquisitions by companies like Veefin Group (acquiring stakes in AI companies), Nivesh (acquiring Wealthzi), Bandhan Group (acquiring Genisys Group).[35]
    • MakeMyTrip acquiring Happay Expense Management from CRED.[35]
  • Funding in Indian Fintech/Payments (apart from PhonePe's own rounds):
    • The Indian fintech sector has consistently attracted significant VC/PE funding. While specific large rounds for direct competitors in the recent past (comparable to PhonePe's scale) are less frequent (as many are already large or listed), the overall funding trend shows investor confidence. [General fintech funding articles from previous search]
    • Focus on funding for neobanks, lending tech, insurtech, and wealth tech startups. [Previous Searches]
    • Inc42 mentions Indian fintech space raised >$12 Bn between 2014 and 2024, with 603+ deals.[36]
  • PhonePe's Own Acquisitions (as an acquirer):
    • OSLabs (Indus Appstore parent).[31]
    • WealthDesk (2022).[37]
    • GigIndia (2022).[37]
    • These show PhonePe's strategy to expand into new areas through acquisition.

10. Any Other Important Sections

  • Future Outlook & Growth Strategy:
    • Deepening penetration in existing services (payments, financial services).
    • Scaling new businesses: Pincode (e-commerce), Share.Market (broking), Indus Appstore.[2][13][20][26]
    • Focus on international expansion.[2][3]
    • Leveraging AI and blockchain.[3]
    • Continued focus on profitability and operational efficiency.[1][20][27]
    • Potential IPO.[13][25]
  • Management Team: Briefly highlight the founders (Sameer Nigam - CEO, Rahul Chari - CTO, Burzin Engineer - CRO) and their experience (ex-Flipkart).[31] (Can add a slide if detailed bios are publicly available and relevant).
  • Regulatory Landscape & Compliance: Acknowledge the dynamic regulatory environment and PhonePe's efforts to comply (e.g., data centers in India, licenses). [Previous Searches, 2]
  • Customer Testimonials/Case Studies (if available publicly): Can add impact. (One example about a merchant was found in PhonePe's annual report snippet).[1]

Next Step: Creating the Pitch Deck Outline

Now we'll create a slide-by-slide outline. I'll suggest a logical flow.

Pitch Deck Structure (Example Flow)

  1. Title Slide: PhonePe: Revolutionizing Digital India
    • (Your Name/Assignment Details)
  2. The Opportunity: The Booming Indian Digital Ecosystem
    • Key stats on India's internet users, smartphone penetration, digital payments growth.
  3. The Problem/Need: Simplifying Finance for a Billion Indians
    • Challenges of cash, need for accessible financial tools.
  4. Our Solution: PhonePe - India's Financial OS
    • Briefly introduce PhonePe as the leading digital payments & financial services platform.
  5. Company Overview: Our Journey & Scale
    • Founding, mission, vision, key milestones, current user/merchant numbers.
  6. Industry Overview: The Digital Payments & Fintech Landscape in India
    • Market size, growth rate, key drivers (UPI, govt. support, demographics).
  7. Our Products & Services: A Comprehensive Ecosystem
    • Payments (UPI, Wallet, QR, POS)
    • Financial Services (Insurance, Lending, Investments - Gold, MF, Share.Market)
    • New Ventures (Pincode, Indus Appstore)
  8. Unique Selling Propositions (USPs): Why We Win
    • Market Leadership, User Base, User Experience, Comprehensive Offerings, Brand Trust, Tech.
  9. Business Model: How We Create Value & Generate Revenue
    • Platform fees (merchants), commissions (financial services, recharges, bill payments), advertising, data analytics (mention responsibly), cross-selling.
  10. Traction & Performance Highlights
    • Key metrics: Transaction volumes, user growth, merchant acquisition.
  11. Financial Performance: Sustainable Growth & Path to Profitability
    • Revenue growth (FY23, FY24).[7]
    • Profitability trends (Net Loss reduction, Adjusted PAT).[7][24]
    • Cite sources clearly.
  12. SWOT Analysis: Internal Strengths, Weaknesses & External Opportunities, Threats
  13. Competitive Landscape: Standing Tall Amongst Peers
    • Identify key competitors (Google Pay, Paytm, etc.).
    • Market share comparison (UPI).
    • PhonePe's competitive advantages.
  14. Porter's Five Forces: Analyzing Industry Structure
  15. PESTEL Analysis: Macro-Environmental Factors
  16. Valuation & Funding: Fueling Our Growth
    • Latest valuation ($12B).[7][31]
    • Recent major funding rounds and key investors (Walmart, General Atlantic, etc.).[7][26][31]
  17. Precedent Transactions: Fintech Market Dynamics
    • Brief examples of significant M&A and funding in Indian Fintech.
    • Highlight relevance to PhonePe's scale or strategy.
  18. Future Outlook & Growth Strategy: The Next Chapter
    • Focus areas (new products, international, profitability, IPO).
  19. Management Team (Optional, if space and public info permit)
    • Brief on founders.
  20. Conclusion: Investing in India's Digital Future
    • Reiterate the key strengths and opportunity.
  21. Q&A
  22. Appendix (Optional):
    • Detailed financials if needed.
    • Additional data sources.

Formatting and Citations:

  • Formatting: Keep slides clean, visually appealing, and not too text-heavy. Use charts and graphs to represent data where possible. Maintain a consistent design.
  • Citations: Crucially, on every slide where you present information from your research, you MUST include a source. For example: "Revenue grew 74% YoY to INR 5,064 Cr in FY24.[1][7][20]"
    • You'll need to create a master list of your sources and assign them numbers to use in these bracketed citations.
    • Alternatively, you can use footnotes on each slide if that's preferred by your institution. Consistency is key.

Phase 3: Content Creation & Design (The "Presentation")

This is where you start populating the slides based on the outline and your research.

  • Be Concise: Use bullet points, short sentences.
  • Be Visual: Use icons, charts, graphs.
  • Be Factual: Stick to publicly available information.
  • Tell a Story: Your pitch deck should have a narrative flow that engages the reader.

Let's pause here. This is a massive amount of groundwork.

Your Immediate Next Steps:

  1. Review the Organized Information: Go through the details I've compiled for each section (USPs, SWOT, Financials, etc.). Do you understand how it fits into the pitch deck?
  2. Familiarize Yourself with the Proposed Outline: Does the flow make sense to you?
  3. Start Drafting Slides: Begin with the sections you feel most comfortable with. Focus on content first, then on making it pretty.
  4. Source Management: As you draft, meticulously note down which piece of information came from which search result (using the index numbers I've provided from the search output). This will be critical for your citations.

This is an iterative process. You'll draft, review, and refine. I'm here to help you at each stage. Ask me specific questions as you start building out the slides. For example, "How should I phrase the key takeaways for the PESTEL analysis on a slide?" or "What's the best way to visually represent the financial growth?"

Good luck, you've got a solid plan and a lot of information to work with! Sources help phonepe.com thekarostartup.com foundrmagazine.in osum.com streamlynacademy.com scribd.com entrackr.com viestories.com entrackr.com entrackr.com business-standard.com inc42.com inc42.com canvasbusinessmodel.com canvasbusinessmodel.com dutchuncles.in canvasbusinessmodel.com prezi.com thekarostartup.com inc42.com vizologi.com smarketer.in scribd.com indiatimes.com outlookbusiness.com clay.com phonepe.com theheadandtale.com cbinsights.com owler.com tracxn.com tracxn.com inc42.com khaitanco.com ibsintelligence.com inc42.com pitchbook.com Google Search Suggestions Display of Search Suggestions is required when using Grounding with Google Search. Learn more PhonePe unique selling propositions What makes PhonePe different from competitors? PhonePe competitive advantages SWOT analysis of PhonePe Porter's Five Forces analysis for Indian digital payments industry PESTEL analysis for fintech in India PhonePe publicly available financial statements PhonePe revenue growth FY23 FY24 PhonePe profit loss statements (publicly available) PhonePe valuation 2023 2024 PhonePe funding rounds history Major competitors of PhonePe in India PhonePe vs Paytm vs Google Pay market share Financial comparison of PhonePe, Paytm, Google Pay Recent M&A deals in Indian fintech sector Recent funding rounds in Indian digital payments companies Case studies of successful fintech M&A in India PhonePe investor presentations (if public) PhonePe annual reports (if public)