PhonePe, one of India’s largest fintech platforms, has appointed Shivnath Thukral as Vice President – Public Policy and Government Affairs, marking a strategic leadership addition as the company gears up for its $1.5 billion IPO.
In this new role, Thukral will spearhead external engagements with policymakers and regulators, helping shape the platform’s public policy agenda while working closely with founders Sameer Nigam and Rahul Chari.
“We are delighted to have Shivnath join the PhonePe team,” said Sameer Nigam, co-founder & CEO, PhonePe. “He brings rich experience and deep insights into regulatory frameworks and public policy that will be invaluable as we scale further.”
Thukral joins PhonePe after a prominent tenure at Meta, where he served as VP of Public Policy, leading efforts around regulatory advocacy, technology policy, and financial inclusion. He has also played key roles in influential industry bodies such as BIF, USISPF, and PAFI, establishing himself as a respected voice in India’s evolving policy landscape.
Strengthening Leadership Amid IPO Buzz
The appointment comes as PhonePe reportedly prepares to file preliminary IPO documents, targeting a valuation of $15 billion. The move underscores the company’s efforts to deepen regulatory alignment and public affairs capabilities at a critical juncture.
Expanding Beyond Payments
With over 600 million users, PhonePe processes 330+ million daily transactions and commands an annual total payment volume (TPV) exceeding ₹150 lakh crore. While it remains a market leader in UPI payments, PhonePe has steadily diversified into insurance, lending, wealth management, and consumer internet through offerings like Pincode and Indus Appstore.
Thukral’s policy expertise is expected to be pivotal as PhonePe navigates regulatory complexities across these verticals, while positioning itself as a next-generation financial and digital ecosystem for Bharat.
