PhonePe Acquires Freelance Entrepreneur Network GigIndia For Undisclosed Amount

PhonePe will leverage GigIndia's network of freelance micro-entrepreneurs to help corporates and enterprises acquire more customers and scale up their distribution channels

PhonePe said this acquisition will strengthen the company's offerings and value proposition to its enterprise partners and will create millions of opportunities for individual freelance micro-entrepreneurs. Image: Getty

New Delhi: Digital payments platform PhonePe on Monday in a statement said that it has acquired GigIndia, the country’s leading network for freelance micro-entrepreneurs for an undisclosed sum. As a part of the acquisition, GigIndia, which has 15 lakh entrepreneurs and over 100 enterprises as customers, will integrate with PhonePe.

PhonePe will leverage GigIndia's network of freelance micro-entrepreneurs to help corporates and enterprises acquire more customers and scale up their distribution channels.

According to a news release by PhonePe, which is India’s leading digital payments platform with over 36.5 crore registered users, this acquisition will strengthen the company's offerings and value proposition to its enterprise partners and will create millions of opportunities for individual freelance micro-entrepreneurs in India.

According to reports, India’s freelance community is projected to grow to $20-30 billion by 2025.

Speaking on the acquisition Vivek Lohcheb, head of offline business at PhonePe, said, “We are excited to welcome GigIndia’s team to PhonePe and leverage their domain expertise to offer value added services to our enterprise partners, helping them scale, expand, and grow their businesses. GigIndia has already served many businesses, with its pool of high-quality, skilled freelance micro-entrepreneurs. We are looking forward to working closely with them.”

Sahil Sharma, chief executive officer at GigIndia, said, “PhonePe is a leader in the digital payments space, and we are delighted to be joining forces with them. GigIndia has been a trusted partner for fast-growing enterprises across India and in PhonePe we have found a like-minded partner, who supports our vision.’’

Aditya Shirole, chief operating officer at GigIndia, said, “GigIndia has been playing a pivotal role in transforming the way businesses are collaborating with an intent of empowering freelance micro-entrepreneurs with readily available opportunities. PhonePe’s vision and values strongly resonate with our ethos of innovation. We are looking forward to working closely with the PhonePe team.’’