Digital payments platform PhonePe has obtained freelance micro-entrepreneur platform GigIndia for an unrevealed amount, announced an official statement. As part of the accession, GigIndia, which has 1.5 million entrepreneurs and more than 100 enterprises as customers, will merge with PhonePe, the company announced in a statement.
PhonePe announced it will furthermore sway GigIndia’s network of freelance micro-entrepreneurs to enable corporates and enterprises to create more customers and increase their distribution channels.
The acquisition will furthermore enhance PhonePe’s offerings and value proposition to its corporate and enterprise partners. According to some measures, India’s freelance community space is expected to rise to $20-30 billion by 2025.
“We are delighted to welcome GigIndia’s team to PhonePe and sway their domain expertise to offer value-enhanced services to our enterprise partners, enabling them scale, expand and expand their businesses,” declared Vivek Lohcheb, head of offline business at PhonePe
Sahil Sharma, CEO at GigIndia, told that PhonePe is a leader in the digital payments space, and further said that “we are delighted to be joining forces with them”.
“GigIndia has been a trusted companion for fast-growing enterprises across India and in PhonePe we have begun a like-minded partner, who favours our vision,” he concluded.