Nirmala Sitharaman, the Indian finance minister, took time during her address at the 150th anniversary celebration of the Bombay Stock Exchange to share some worries with the audience. Following the recent wave of tariffs by U.S. President Donald Trump, fresh instability has swept through the global markets.
“We recognize that the global landscape is changing and changing rapidly and the world is going through a phase of trade recalibrations and movements. I don’t need to talk in detail. The recalibration efforts on trade are very, very challenging. It is worrisome, but it is also going to be very challenging. The intensification of tariff wars and the rise of protectionist policies have the potential to disrupt global supply chains, increase production costs and create uncertainty in investment decisions,” Sitharaman said.
In today’s unpredictable global environment, calibrating world trade has become a serious challenge. Our globalized world demands free trade and the mutual economic benefits that arise from it. Supply chains crisscrossing the globe mean that all of us in the interconnected world must take care of one another’s mutual economic interests. Anything that puts up barriers to trade, rising protectionism, for example, can and will have economic repercussions for all of us.
India Banking on Policy Agility and Domestic Strength
Amid the worldwide turbulence, Sitharaman reiterated her assurance in the direction of the Indian economy. She picked out sturdy macroeconomic fundamentals and a growing home momentum as the key help resilience pillars. The government, she indicated, is taking a forward-looking line in policymaking and is mixing agility, a long-term domestic strategy, and a productivity-enhancing focus.
She underscored that India is not cut off from worldwide impacts, but its readiness and reforms have set it on a path to endure outside interruptions better than a lot of the company it keeps. The aim, she said, is to crank up domestic competitiveness and efficiency which will help ward off the rising trade tensions and the economic fragmentation.
Domestic Investors Fuel Market Maturity
The domestic institutional investors are increasingly becoming a force in India’s financial markets. The finance minister said that in the last financial year alone, the DII recorded inflows of INR 6.1 lakh crore. The DII is today an investor who has a much more sophisticated understanding of the Indian financial markets. This is a good story for domestic confidence in India’s economy, according to the finance minister.
Sitharaman emphasized how far India’s capital markets have come. We now have the fifth-largest equity market in the world, our stock market was recently valued at over USD 5 trillion. And in terms of really big companies, our large-cap universe is now way more than five times larger than it was in the year 2000. Back then, you had just one company worth INR 1 lakh crore or more, and now you have 81. This is simply a much more mature ecosystem.
Sitharaman also urged corporates to commit to transparency and concentrate on maximizing shareholder value in her address. She urged regulators to be proactive and responsive to the rapidly evolving market atmosphere.
Upwork is a top-tier freelance platform designed to link up organizations with freelancers across the globe. Its category diversity includes IT, writing, designing, and customer service, thus reducing the difficulty freelancers encounter looking for job relevance. It has an easy-to-navigate dashboard for managing profiles, proposals, and communication. It also has a secure escrow payment system that temporarily keeps the money until a client approves a job done to ensure both sides are financially guarded. Upwork has incorporated the built-in features of messaging, video calls, and file-sharing tools, ensuring the proper facilitation of tasks.
Upwork uses an online Work Diary for time tracking, which records keys and captures screen images for all tasks done under hourly contracts while allowing milestone payments to mark each stage on fixed-price contracts. Its open feedback mechanism enables clients and freelancers to build their reputations. With Upwork Enterprise, businesses can gain access to expert-vetted talent, more security in protecting data, and dedicated account management services.
History and Journey of Upwork
Upwork originated from two separate platforms: Elance, founded in 1998 by Beerud Sheth and Srini Anumolu, and oDesk, founded in 2003 by Odysseas Tsatalos and Stratis Karamanlakis. Elance was one of the first online marketplaces connecting small businesses with freelancers, while oDesk was created to facilitate remote staffing and workforce management. The two companies were merged in 2013 as Elance-oDesk and rebranded to Upwork in 2015 before launching an updated system on June 17 of that year.
Since going public in 2018, Upwork has significantly expanded, reaching 14 million users by 2017. In 2020, it introduced the “Project Catalog” feature, enabling freelancers to offer pre-packaged services. A major strategic move came in 2022 when Upwork suspended operations in Russia and Belarus. As of 2024, Upwork reported revenues of $769 million and a net income of $216 million.
Upwork has established itself as a leading freelancing marketplace, offering secure transaction models, transparency tools, and enterprise solutions, ensuring that freelancers and businesses can compete effectively in the digital economy.
Upwork is what would be called a two-sided marketplace. It connects businesses to freelancers for remote work, bringing in revenue through various means for all interactions between freelancers and clients. A client posts a job requirement while freelancers write a proposal within some defined “Connects” for the job and offer services within various categories. Everything occurs under this security of transaction using an escrow system, including hourly work, which is managed within the “Work Diary” tool.
The revenue model includes a 10% service fee on freelancer earnings, a 5% client service fee, and membership plans such as Freelancer Plus and Business Plus. Additional income comes from Connects sales, advertising, and enterprise solutions for larger companies.
Starting May 1, 2025, Upwork will introduce a variable Freelancer Service Fee for new contracts, replacing the fixed 10% rate. This fee will vary based on factors such as client demand for specific work and will remain consistent for the duration of the contract. Existing contracts will not be affected by this change.
Revenue of Upwork worldwide from 2016 and 2023
In 2023, Upwork generated $689.14 million in revenue, with 85% ($586.1 million) coming from its marketplace. The platform’s Gross Services Volume (GSV) reached $4.14 billion.
Upwork has played a transformative role in global talent access and cost-effective hiring, making freelance work more fluid and integrated within the evolving gig economy for both individuals and enterprises.
Upwork has successfully matured into its current place among the freelancing platforms. Between 2016 and 2023, Upwork’s revenue grew from $166.44 million to $689.14 million, showing a 4.2x growth over this period. The company’s GSV (gross services volume) reached $4.14 billion in 2023: its marketplace revenue increased by 37% compared to 2021 and thus stood at $586.1 million. Upwork recorded 851,000 active clients at the end of 2023, and that number has increased by 57.59% since 2019. It also connects over 18 million freelancers around the globe, including the 3.7 million based in the US, where top earners exceed $1.5 million.
Beyond numbers, Upwork has redefined remote work and the gig economy by connecting businesses with global talent. Through the Project Catalog, coaching for freelancers, and other collaborations with Coursera and Udemy, skill development is improved. Major clients, including Marriott and Reddit, have adopted Upwork Enterprise Solutions. It keeps extending flexibility, innovation, and accessibility across a workforce in the current digital economy.
Goals, Challenges, Solutions, and Competitors of Upwork
One important thing in the development of a company is that it is feasible and, above all, it is possible only when the company meets all its goals and overcomes all the barriers.
Goals of Upwork
Connecting Businesses and Freelancers: Upwork seeks to link businesses with skilled freelancers worldwide, thus encouraging cooperation beyond borders.
Creating Economic Opportunities: The Primary focus of Upwork remains on empowering people through flexible work opportunities to allow freelancers to gain back control of their careers and make a living.
Empowering the Future of Work: Upwork sees itself as a pioneer in transforming the traditional workplace by enabling remote work and flexibility, thus allowing freelancers to engage in activities that they are passionate about and to find meaningful work.
Innovating with Artificial Intelligence: Upwork centers the utilization of AI tools, including OpenAI‘s models, to improve user experience and productivity and to simplify its operations.
Upwork Challenges
Saving a Deal: Many freelancers complain of low-paying gigs, thus creating tough competition with very little earning potential.
Excessive Service Fees: Upwork charges its service fees in the range of 5%-20%, which can be quite an unbearable burden to freelancers working small contracts.
Saturation of Platforms: A slew of freelancers registered on Upwork makes it difficult for freshers to find a distinguishable footing and procure a project.
Mismatch of Clients and Freelancers: Although features like ‘Best Match Insights’ in Upwork try to find the correct freelancer for a project, it remains a challenge to ensure that happens with any regularity.
Solutions
AI-Powered Tools: The Job Post Generator and Proposal Tips features provide ease for writing up job posts and proposals, thereby making life easier for the clients as well as freelancers. Upwork’s AI assistant provides key insights, suggests customizations, and acts as an efficiency multiplier.
Talent Recognition: Talent badges are another way for freelancers to show their expertise to attract high-quality clients.
Escrow Payment Protection: With Upwork, clients and freelancers are protected in the course of the project through escrow accounts pre-funded with project money.
Enterprise Solutions: Upwork provides tailored services for large-scale enterprises, enabling them to scale their remote workforce efficiently.
Competitors of Upwork
Fiverr: Primarily inclined towards micro-gigs with fixed pricing, but offers fewer opportunities for extensive engagement compared to Upwork.
Freelancer.com: Very much like Upwork, but it is criticized for its convoluted bidding system and less competitive quality of gigs.
Toptal: Targets elite professionals with a strong vetting process, resulting in higher fees.
Guru: A straightforward freelancing platform, but it has a smaller user base.
Upwork has established itself as a staple in the freelancing market, serving as a global meeting point for businesses and professionals to exchange skills, innovations, and achievements. The business model of Upwork is built on simplifying the connection between various trade structures through diverse pricing options, ensuring clients remain engaged. With a global user base, Upwork admires a work culture that permits the use of contingent work, embracing change through AI and various advanced tools for enhancing its capability, thereby expanding to meet market dynamism.
The platform has empowered millions by providing economic opportunities and promoting autonomy in their careers. It shapes the future of today’s workforce by facilitating online, remote work, contributing to the evolution of the digital age.
Upwork is a website where people hire freelancers for jobs like writing, design, coding, and more.
What is Upwork business model?
Upwork is an online marketplace that connects clients with freelancers for various services like writing, design, programming, and more. Its business model is based on earning revenue through service fees charged to freelancers (ranging from 5% to 20% depending on earnings), payment processing fees from clients, and subscription fees for premium plans. By acting as a middleman, Upwork provides a secure platform for remote work, helping businesses find talent and freelancers find jobs globally.
Who are Upwork competitors?
The main competitors of Upwork include Fiverr, Toptal, Guru, Freelancer.com, and others.
India is getting ready to leapfrog Germany and Japan to secure the title of the world’s third-largest economy in the next three years, according to NITI Aayog Chief Executive Officer B V R Subrahmanyam. Currently sitting at No. 5 in the world with a gross domestic product (GDP) of USD 4.3 trillion, Subrahmanyam said India would vault to No. 4 by the end of next year and quickly claim its spot at No. 3 soon after.
He assigned this swift advance to the sustained reforms of India, a youthful population, and an enlarging marketplace. These three he took to be the distinguishing features of India, as a place to invest, in contrast to the many countries around the world that are now experiencing falling birthrates and an increasing median age.
Demographics Drive Global Relevance
A central idea in Subrahmanyam’s way of looking at things is that India’s demographics work to its advantage. While population growth is not something most nations aspire to, India is one of the few countries in the world expected to see any significant increase in the number of people of working age over the next couple of decades. Japan and Germany in the next 10 years will see their populations shrink. By contrast, India will see lakhs of young people come into the workforce every year.
India’s workforce isn’t just large, but it is also increasingly skillful and mobile. This is, or at least should be, the central pillar of the country’s effort to become globally competitive in the coming decades, an undeniable demographic dividend. No economy under demographic strain can be competitive without a reliable human capital supplier, and that’s what India is aiming to be for the next several decades.
India’s Shift Toward a Knowledge Economy
Subrahmanyam stressed that India’s growth story is going beyond just the basic development metrics. Today, as a middle-income country, we are focusing on building a knowledge-driven economy. Domestic firms, even in the legal and accounting sectors, should aspire to global ambitions and meet international standards in innovation and service delivery. That’s what India’s next growth story is all about.
He also highlighted that India, with its democratic system and sizable young population, has the potential to become a global education hub, exporting not just talented individuals but also institutions and educational systems.
Path to USD 10 Trillion and Beyond
Reflecting the same optimistic tone, Chief Economic Advisor V Anantha Nageswaran, at the India Conclave 2025, projected India’s GDP to cross the $10 trillion threshold by 2047. He emphasized the need for sustained momentum through consistent policies, deregulation, and research and development (R&D) investments.
Regarding the impact of AI, Nageswaran dismissed the idea that low-cost labor would become unimportant. He pointed out that a number of manual services, like plumbing and other trades, are too hands-on and too varied to be completely taken over by machines. He believes the same is true of many not-so-skilled jobs that are too much of a human scale to be performed by robots. For these reasons, Nageswaran sees digital technology as a tool for upgrading the cheap workforce into a more valuable one.
With trade tensions rising between the US and China, India is positioning itself as a competitive manufacturing alternative across key sectors.
1. Offering multi-year duty exemptions for more than 100 components needed in electronics production.
2. Targeting a significant increase in capacity for semiconductors and display manufacturing.
3. Trying to use land records to ensure that companies that promise to invest in India get smooth title guarantees.
4. Making a big push to get companies to use local suppliers.
India Eyes Opportunity Amid US-China Trade Rift
Amid the intensifying trade disputes between the U.S. and China, India is hurrying to attract American manufacturers looking for new production bases. With many industries, from electronics to pharmaceuticals, toys, and chemicals, under the spotlight, the Indian government is setting about to make the country a strategic alternative manufacturing hub.
The country’s strategy is clear: take advantage of the changing supply chains while our main competitors, like Vietnam, haven’t yet solidified their own leads. Fine-tuning discussions in recent months between industry representatives and policymakers have zeroed in on the need for initiatives that set us up for success in virtual trade negotiations with India scheduled for next month, with the promise of in-person meetings soon thereafter.
Electronics Sector Sensing a Breakthrough
Emerging as a high-potential area, the electronics industry in particular has a critical window to ramp up domestic production and investments. U.S. tariffs on Chinese electronics remain in force, which makes duty-free access into the U.S. for smartphones and other electronics made in India a major plus for our industry. Electronics can be an even bigger powerhouse if we make more of them in India.
Yet, the execution of that plan demands precision. Right now, much of the electronics supply chain is heading to Vietnam, which is now the largest exporter of Samsung devices to the US. The reality is that unless India provides clearer vision and sustained support to its aims, there’s a very real chance that Vietnam could end up with a much bigger slice of the electronics manufacturing pie.
Government’s Strategic Push Gathers Momentum
To close the gap, India has adopted a multi-pronged approach. The lead agency is the Department for Promotion of Industry and Internal Trade (DPIIT). It is expected that ministries associated with sectors of manufacturing will join soon. PLI schemes have been central to this push and have attracted interest in a few sectors, notably smartphones, IT hardware, and electronic components.
The government has identified 10 to 12 strategic sectors, including pharmaceuticals, chemicals, automobiles, air conditioners, and toys, where India has a comparative advantage. Officials have also indicated that proposals involving joint ventures and technology transfers will receive preference, as they contribute to ecosystem development.
Industry Seeks Support on Ground Realities
Although the roadmap holds promise, the operational issues stakeholders from industry have flagged are quite numerous. The high level of taxation, slow customs processes, and persistent bottlenecks in infrastructure continue to make large-scale investment seem too risky to too many would-be investors. Industry chambers are in active dialogue with the government to resolve these and other hurdles.
If executed with an inclination toward agility, accompanied by a fair dose of forethought, the strategy that India has set could yield something very different. It could unlock a new phase of growth, manufacturing-led growth, as they say, that could reshape India’s position in the global trade landscape.
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In today’s world, the emphasis is on comfort and ease, and the banking industry has seen quite a revolution in this regard. Carrying cash was rather cumbersome, which led to the birth of digital payments and mobile wallets, and PhonePe has grown up to be one of the major exponents in this sector.
Mobile apps are the preferred method for the payment of groceries, utility bills, phone recharges, etc. Even large transactions are now done digitally rather than in cash, which has not only removed the risk factors in the physical world but also streamlined the whole banking and finance sector for good.
PhonePe is one such payment app that has made the lives of millions of Indians simple. Founded in December 2015, PhonePe is currently hailed as the market leader in the digital payments space in India. The app allows users to maintain their bank accounts digitally, access them at their convenience, and use their funds for all the purposes that they want. They can easily link their credit and debit cards with a mobile wallet to make their digital payments. Furthermore, instant money transfers can also be done through PhonePe. These are only some instances when PhonePe appears to be indispensable and trust us, there are more!
If you want to know more about PhonePe’s Success Story, its founders, history of PhonePe, its business model, revenue model, funding and investors, revenue, growth, competitors, and more, then stay glued.
PhonePe, founded in December 2015, is a renowned digital payments company that supports over 11 languages. It is among the first payment apps built on the Unified Payments Interface (UPI) and holds the distinction of being the first UPI payments app to surpass the billion-transaction milestone. The app offers a wide range of services, allowing users to send and receive money, check bank balances, make POS payments, purchase gold, and perform various transactions such as phone recharges, DTH payments, and utility bill payments. It is widely recognized and approved by Indian merchants, enabling users to book rides, order food, shop online, and more.
Obtaining regulatory approval from the Reserve Bank of India (RBI), PhonePe operates as an account aggregator. This groundbreaking service empowers Indian consumers to grant consent and securely share their financial data, including bank statements, insurance policies, and tax filings, with regulated Financial Institutions or Financial Information Users (FIUs). Through this service, users can easily apply for loans, obtain insurance, seek investment advice, and explore other financial solutions. Importantly, users retain complete control over their data consent, with the ability to request, pause, or revoke access conveniently through aa.phonepe.com or directly within the PhonePe app.
With its wide range of services, innovative features, and regulatory approval as an account aggregator, PhonePe continues to redefine the digital payments landscape in India, empowering users with secure and convenient financial solutions while putting them in control of their data.
How Does PhonePe Work?
PhonePe is a digital payment and wallet-based app that operates within the Unified Payments Interface (UPI) ecosystem. To use PhonePe, users need to download the app, link their phone numbers, and verify their bank accounts. Once set up, users can make transactions directly through the app. PhonePe acts as a mediator between users and their bank accounts, enabling seamless fund transfers, bill payments, and online shopping. The app provides a secure and convenient platform for users to manage their digital payments, ensuring a smooth and hassle-free experience.
PhonePe – Industry
UPI Market Share by Volume (July 2024)
As per the Statista reports, the Digital Payments market in India is projected to grow by 11.56% (2024-2028) resulting in a market volume of US$394.40 billion in 2028. PhonePe, along with Google Pay and Paytm, emerged as the dominant players, collectively accounting for nearly 96% of all UPI transactions by value in March. PhonePe continued to lead the market in terms of both value and volume for UPI transactions, solidifying its standing in the market.
Sameer Nigam, Burzin Engineer, and Rahul Chari are the founders of PhonePe.
Sameer Nigam
Sameer Nigam – Founder and CEO, PhonePe
Sameer Nigam is the founder and CEO of PhonePe. Before PhonePe, Sameer held key positions at Flipkart, including Senior Vice President of Engineering and Vice President of Marketing. Sameer’s association with Flipkart dates back to 2011, when his earlier startup, Mime360, was acquired by the company. He has also worked as the Director of Product Management at Shopzilla, Inc. Sameer holds an MBA from the Wharton Business School at the University of Pennsylvania, a Master’s degree in Computer Science from the University of Arizona, Tucson, and a Bachelor’s degree in Computer Science from the University of Mumbai, India.
Rahul Chari is the Founder and CTO of PhonePe. He started his career as a software engineer with Andiamo Systems Inc. after completing an internship at Sun Microsystems. Chari then went on to serve in managerial positions in a couple more companies like Cisco Systems, Mime360, and Flipkart, where he served as the Senior Software Engineer, Manager, Co-founder and CTO, and Vice President of Engineering, respectively. Rahul holds a Master’s degree in Computer Science from Purdue University, USA, and a Bachelor’s degree in Computer Engineering from Mumbai University, India.
Burzin Engineer
Burzin Engineer – Founder and CRO, PhonePe
Burzin Engineer is the Founder and CRO (Chief Reliability Officer) of PhonePe. He was the Vice President of Engineering and Operations at M-GO for two years before founding PhonePe. Furthermore, he has also worked with Flipkart, mime360.com, Shopzilla.com, SoftAware Inc., MarchFirst Inc., Twin Sun Inc., and AT&T Global Information Systems (Teradata). Burzin pursued his Bachelor’s degree from the University of Mumbai and later completed a Master’s degree in Computer Science from the University of Southern California.
PhonePe – Startup Story
PhonePe was founded in 2015 by Sameer Nigam, Rahul Chari, and Burzin Engineer, who were ex-Flipkart employees. With a vision of simplifying transactions and making financial services accessible to all, they founded PhonePe.
In 2016, PhonePe took a significant leap forward when it caught the attention of Flipkart, one of India’s leading eCommerce giants. Recognizing its immense potential, Flipkart swiftly acquired PhonePe, forging a strategic partnership that would shape the future of digital payments.
With the backing of Flipkart, PhonePe began its journey toward revolutionizing the digital transaction landscape. The founders had a groundbreaking idea to leverage the Unified Payments Interface (UPI), a newly launched infrastructure by the National Payments Corporation of India (NPCI). This decision would prove to be a turning point in PhonePe’s story.
By integrating with UPI, PhonePe offered users a seamless and secure way to make transactions directly from their bank accounts. The app gained popularity for its user-friendly interface, fast processing times, and convenient features. It quickly became a trusted name in the digital payment space.
As PhonePe continued to innovate and expand its offerings, it solidified its position as a leader in the fintech industry. The platform’s commitment to user empowerment, data privacy, and convenience resonated with millions of users across India.
In December 2022, Flipkart and PhonePe announced their complete ownership separation. This move granted PhonePe the independence to chart its growth trajectory, marking a pivotal moment in its journey. Additionally, PhonePe shifted its domicile from Singapore to India in October 2022.
Today, PhonePe continues to redefine the way Indians transact digitally. With its secure and innovative solutions, PhonePe empowers users to effortlessly manage their finances, access a wide range of financial services, and experience the convenience of digital payments.
PhonePe – Mission and Vision
PhonePe’s mission is to offer every Indian an equal opportunity to accelerate their progress by unlocking the flow of money and access to services.
The vision statement of PhonePe is, “Our Vision is to build India’s largest transaction platform anchored on payments. A scalable ecosystem that creates maximum positive impact for all stakeholders”.
PhonePe – Name, Tagline, and Logo
PhonePe Logo
The name of PhonePe sounds quite similar to its peers, Google Pay, Amazon Pay, and more because it is essentially a payments app. However, PhonePe has an interesting take on the word “pay” by using “Pe” in its name. This evokes the Hindi connotation of the term, aligning with its operation on mobile phones. The brand chose the color purple as its primary color and incorporated it into the logo. The linguistic mixing of Hindi and English in writing “Pe” helps users recall the Hindi connotation.
PhonePe goes by the tagline “Karte Ja. Badhte Ja,” which means “Keep doing, keep growing,” written on a very positive note that hints toward the transactions on the app and the expansion of the business of PhonePe.
PhonePe – Business Model
PhonePe operates on a combined B2B and B2C business model in the digital payments and financial services sectors.
Consumer Side: On the consumer side, PhonePe offers a digital payment platform that allows users to make seamless transactions using their smartphones. Users can link their bank accounts, debit cards, and credit cards to the PhonePe app, enabling them to make payments, transfer money, recharge mobile phones, pay bills, and more. PhonePe provides a user-friendly interface and a secure platform for convenient and efficient financial transactions.
Merchant Side: PhonePe also caters to merchants by providing them with payment solutions and tools to accept digital payments. Merchants can use the PhonePe app or integrate PhonePe’s payment gateway into their own applications or websites. This enables them to accept payments from customers using various payment methods, including UPI, cards, and wallets. PhonePe offers features such as payment notifications, transaction history, and easy reconciliation to enhance the merchant’s payment experience.
PhonePe has also obtained a license from the RBI (Reserve Bank of India) to provide services related to money transactions and payment systems in India. The company strives to expand its user base, generate profits, and offer additional services beyond traditional banking transactions.
The PhonePe Services encompass a comprehensive range of offerings, including Pre-Paid Instruments, Gift cards, Payment gateways, Recharges and Bill Payments, Insurance, Mutual Funds, Gold sales, and purchases, and switch interfaces and access. These services exemplify PhonePe’s dedication to delivering a diverse and user-centric platform that caters to various financial needs.
PhonePe – Revenue Model
PhonePe operates on a revenue model that encompasses various streams of income which are as follows:
Transaction Fees: PhonePe generates revenue by charging transaction fees or commissions on each transaction made through its platform. This includes fees on UPI payments, bill payments, recharges, and other financial transactions processed through the app.
Merchant Services: PhonePe offers merchant services, enabling businesses to accept payments through its POS machines. PhonePe earns revenue by charging merchants a fee for using its POS machines and accepting payments from customers.
Insurance Brokerage: With its insurance brokerage license obtained from the IRDAI (Insurance Regulatory and Development Authority of India), PhonePe offers insurance products to its user base. The company earns revenue through commissions on insurance policy sales.
Affiliate Commissions: PhonePe partners with various brands and vendors to promote their products and services to its users. It earns affiliate commissions when users make purchases or engage with partner offerings through the PhonePe platform.
Advertising and Promotions: PhonePe generates revenue through advertising and promotional activities. Brands and businesses can leverage PhonePe’s platform to reach a large user base, and PhonePe charges fees for advertising and promotional placements on its app.
Data Insights: PhonePe leverages its extensive user database to gather valuable insights on payment patterns, customer behavior, and preferences. These insights can be used for targeted marketing and data-driven decision-making, potentially generating revenue through data analytics services or partnerships.
PhonePe, founded in December 2015, was acquired by Flipkart in 2016 for about $20 million. Since then, the company has experienced remarkable growth, reaching a valuation of over $12 billion in 2023.
PhonePe became the first UPI-based app to surpass 10 million downloads in 2017 and has consistently ranked among the top finance apps in major app stores. It has emerged as a leading player in UPI transactions and achieved the milestone of 1 million app transactions in a day in 2017. With its popularity as a digital payments service provider, PhonePe recorded $2 billion in monthly transactions in October 2021. The company has reached 5 billion (5.33 billion) transactions via unified payments interface (UPI) for the first time in October 2023.
PhonePe’s growth is evident through its innovative offerings, including the Smart Speaker, Pulse platform, Pincode App, merchant lending platform, and POS devices.
PhonePe Smart Speaker
PhonePe expanded its offerings with the launch of the PhonePe Smart Speaker in August 2022, aimed at enhancing the payment tracking experience at stores. Equipped with multilingual payment notifications and up to 4 days of battery life, these speakers are installed at merchants’ doorsteps for a nominal initial cost of Rs 50 and a monthly rental fee of Rs 50.
PhonePe Pulse
PhonePe Pulse is a leading platform in India that launched in September 2021 and provides comprehensive data and insights on digital payment trends. It offers valuable information on the country’s digital payment landscape through an interactive map showcasing transactions, enabling users to understand the adoption and usage patterns of digital payments across various regions. PhonePe Pulse is a valuable resource for government, media, industry analysts, merchants, startups, and academic institutions, offering deep insights into consumer and merchant behavior.
PhonePe Pincode App
PhonePe launched Pincode, a new consumer-facing application that operates within the framework of India’s Open Network for Digital Commerce (ONDC), in April 2023. This allows PhonePe to strengthen its presence in the eCommerce space and directly compete with rivals like Paytm. Pincode focuses on hyperlocal commerce and offers categories such as grocery, food, pharma, electronics, home decor, and fashion. The app aims to provide a seamless shopping experience, with plans to expand to multiple cities. With this, PhonePe is the first player to have a dedicated app on the ONDC platform, supporting the government’s push for digital commerce in India.
PhonePe Merchant Lending Platform
In June 2023, PhonePe launched its merchant lending platform. This innovative platform aims to address the challenges faced by small and medium enterprises (SMEs) in accessing organized credit. By leveraging its extensive base of over 35 million merchants, PhonePe enables banks and non-banking financial companies (NBFCs) to provide credit digitally and seamlessly. Through the PhonePe for Business app, SMEs can experience a streamlined and quick loan approval process, ensuring timely access to credit for their growth and development.
Phone.Pe Launches App Share.Market
PhonePe, a major player in the fintech industry with strong backing from retail giant Walmart, took a significant step forward by venturing into the world of stock broking on 30 August 2023. They did so by introducing their new mobile application aptly named “Share.Market”.
This user-friendly app is set to provide individuals with the means to partake in stock trading, invest in mutual funds, and even delve into the world of exchange-traded Funds (ETFs). This move not only marks a significant expansion of PhonePe’s services but also positions them to cater to a broader audience looking to explore the world of financial markets through a convenient and accessible platform. It’s a noteworthy development in the ever-evolving landscape of fintech, with PhonePe aiming to make stock market participation more accessible to the masses.
“We launched lending, insurance, and payment gateway businesses recently. We started mutual fund distribution four years back and now we are entering the stock broking business under its subsidiary PhonePe Wealth,” said Sameer Nigam, founder and chief executive officer (CEO) of PhonePe.
PhonePe Point-of-Sale (POS) Device
PhonePe has expanded its presence in the digital payment ecosystem by entering the point-of-sale (POS) device market. This strategic move positions PhonePe to compete with industry players like Pine Labs, Paytm, and Razorpay, offering reliable and efficient payment solutions for merchants accepting payments via debit cards, credit cards, and UPI. By leveraging its expertise in digital payments, PhonePe aims to provide seamless transactions for customers in both online and offline environments, catering to the diverse needs of businesses.
PhonePe – Financials
PhonePe’s revenue has seen significant growth over the years, but expenses have also increased, resulting in continued losses. Below is a detailed breakdown.
Particulars
FY24
FY23
FY22
FY21
FY20
Revenue
INR 5,725 crore
INR 3,085 crore
INR 1,692.8 crore
INR 725.3 crore
INR 427.2 crore
Expenses
INR 7,756 crore
INR 5,907 crore
INR 3,705.7 crore
INR 2,456.9 crore
INR 2,202.9 crore
Profit/(Loss)
INR -1,996 crore
INR -2,795 crore
INR -2,013.8 crore
INR -1,728.8 crore
INR -1,771.7 crore
PhonePe Financials FY24
In 2024, PhonePe’s operating revenue grew by 74% to INR 5,064 crore, up from INR 2,914 crore in 2023. However, total expenses also increased by 31% from INR 5,907 crore in 2023 to INR 7,756 crore in 2024. Despite this, PhonePe reduced its losses by 29%, with a loss of INR 1,996 crore in 2024 compared to INR 2,795 crore in 2023.
PhonePe also witnessed robust revenue growth, surging 77% growth to INR 2,914 crore in FY23 from INR 1,646 crore in FY22.
The company claims that in FY23, as opposed to FY22, its EBITDA for the payment segment stood at negative INR 1,755 crore whereas in FY22 it was negative INR 1,622 crore.
PhonePe Revenue:
Revenue has nearly doubled from FY23 to FY24, mainly driven by growth in operations.
Revenue Breakdown
FY24
FY23
Revenue from operations
INR 5,064 crore
INR 2,914 crore
Other income
INR 661 crore
INR 171 crore
PhonePe Expenses:
Expenses have increased due to higher employee costs and amortisation expenses.
Expense Breakdown
FY24
FY23
Employee benefit expense
INR 3,603 crore
INR 3,096 crore
Amortization & Depreciation
INR 1,117 crore
INR 536 crore
Other expenses
INR 3,001 crore
INR 2,251 crore
PhonePe Profit/Loss:
Despite revenue growth, losses persist, but they have slightly decreased in FY24.
Profit/Loss Breakdown
FY24
FY23
Profit/(Loss) before tax
INR -2,006 crore
INR -2,802 crore
Tax Expense
INR -10 crore
INR -7 crore
Net Profit/(Loss)
INR -1,996 crore
INR -2,795 crore
Quick Summary:
Revenue Surge: Revenue nearly doubled from INR 3,085 Cr in FY23 to INR 5,725 Cr in FY24.
Expense Growth: Major increase in employee expenses and amortization costs.
Loss Reduction: Losses decreased from INR 2,795 Cr in FY23 to INR 1,996 Cr in FY24.
Operational Growth: Strong increase in revenue from operations, showing business expansion.
PhonePe – Challenges Faced
Starting up was indeed a big challenge for PhonePe because the industry was quite new and rather unexplored. However, the PhonePe acquisition by Flipkart settled things.
Blockage by ICICI Bank and Airtel
PhonePe was blocked on January 14, 2017, by ICICI Bank because the PhonePe transactions did not meet the NPCI guidelines. Though the NPCI initially instructed ICICI to allow UPI transactions via PhonePe on January 19, 2017, the regulatory body confirmed a day later that the digital payments service provider had indeed violated the UPI norms. Airtel was another company that blocked PhonePe transactions on its platforms during the same period.
This led PhonePe to close its operations on Flipkart’s website, which helped the startup align itself with the terms stated in the updated verdict from the NPCI. The digital payments app resolved all of these issues with ICICI and Airtel by February 2017.
QR Code Burning Incident
PhonePe faced a notable incident where its QR codes were allegedly burned by employees of Paytm. PhonePe promptly filed a police complaint at Surajpur Lakhnawali police station in Greater Noida. Upon identification of the individuals involved, including a Paytm Area Sales Manager (ASM) and a former PhonePe employee, Paytm took immediate action and suspended them. Paytm emphasized its commitment to upholding high standards of work ethics and stated that it does not tolerate any form of misconduct.
Domicile Shift and Investor Contribution
Another challenge PhonePe encountered was the process of shifting its domicile from Singapore to India. PhonePe’s investors contributed approximately Rs 8,000 crore in taxes to facilitate this domicile shift. This significant financial contribution from investors played a vital role in aligning PhonePe’s operations with the regulatory framework in India.
PhonePe – Funding And Investors
PhonePe has raised over $2.6 billion in funding across 18 rounds as of May 2023. The ongoing financing round has propelled Walmart-backed PhonePe’s valuation to $12 billion, with investments from notable investors including General Atlantic.
Here is a detailed list of PhonePe’s funding and investors below:
Date
Amount Raised
Round
Lead Investors
May 22, 2023
$100 million
Private Equity
General Atlantic
April 12, 2023
$100 million
Private Equity
General Atlantic
March 17, 2023
$200 million
Corporate
Walmart
February 14, 2023
$100 million
Private Equity
–
January 19, 2023
$350 million
Private Equity
General Atlantic
August 18, 2021
$350 million
Corporate
Walmart
December 14, 2020
$21 million
Corporate
Flipkart
December 3, 2020
$700 million
Corporate
Walmart
April 27, 2020
$28 million
Corporate
Flipkart
February 26, 2020
$59.6 million
Corporate
Flipkart
December 10, 2019
$78.8 million
Corporate
Flipkart
October 22, 2019
$54.7 million
Corporate
Flipkart
July 30, 2019
$93.5 million
Corporate
Flipkart
March 22, 2019
$101 million
Corporate
Flipkart
August 9, 2018
$60 million
Corporate
Flipkart
April 1, 2018
$42.7 million
Corporate
Flipkart
March 23, 2018
$69.4 million
Corporate
Flipkart
October 4, 2017
$33.4 million
Corporate
Flipkart
PhonePe – Shareholding
PhonePe shareholding pattern as of November 2023, sourced from Tracxn:
PhonePe Shareholders
Percentage
General Atlantic
4.4%
Three State Capital Advisors
1.0%
Qatar Investment Authority
1.0%
Ribbit Capital
0.4%
Tiger Global Management
0.2%
TVS Capital Funds
0.2%
Walmart
71.2%
Headstand
5.7%
Microsoft
0.7%
WCH Q3 2020 1
0.1%
Jadoff SPV 5
< 0.1%
Angel
–
ESOP Pool
15.2%
Total
100.0%
PhonePe Shareholding
PhonePe – IPO
PhonePe, backed by Walmart, is preparing for an IPO. It has appointed four investment banks, JP Morgan, Kotak Mahindra Capital, Morgan Stanley, and Citi, as advisors for the listing.
The company seeks a valuation of up to $15 billion and plans to launch its IPO soon. PhonePe aims to go public on Indian stock exchanges, marking a major milestone in its 10-year journey. The move follows strong growth in its revenue and efforts to improve its bottom line.
In a significant step towards its public listing, PhonePe converted from a private limited company to a public limited company in April 2025. The company will now be registered as “PhonePe Limited,” aligning with regulatory requirements ahead of its anticipated IPO.
PhonePe – Acquisitions
PhonePe has made six acquisitions, including Indus OS, Zopper, GigIndia, Indus App Bazaar, OpenQ, and WealthDesk. Notably, it acquired OpenQ and WealthDesk in a combined deal worth $75 million in May 2022. In July 2022, PhonePe announced the acquisition of Indus’ parent company, OSLabs, after reaching an amicable settlement with Affle Global.
Acquiree Name
Date
Amount
Indus OS
July 29, 2022
$60 million
OpenQ
May 18, 2022
$25 million
WealthDesk
May 17, 2022
$50 million
GigIndia
March 22, 2022
–
Indus App Bazaar
May 19, 2021
$60 million
Zopper
July 16, 2018
–
PhonePe – ESOPs
PhonePe offers ESOPs to its full-time employees. In November 2021, the company conducted a buyback of ESOPs worth INR 135 crores, benefiting 75% of its workforce who have completed at least one year of service. Additionally, as part of the separation from Flipkart, eligible employees will receive a one-time cash payout from a $700 million employee stock option (ESOP) buyback conducted by Flipkart. These payouts aim to compensate for the loss of PhonePe’s value in the stock options.
PhonePe – Partnerships
PhonePe has seen many partnerships over the years that it has been operating. Here’s a dive into some of the most important ones:
PhonePe partnered with Axis Bank in July 2021 on the UPI multi-bank model. It has already collaborated with Yes Bank.
Ola collaborated with PhonePe in July 2020 to allow Ola payments through the PhonePe app and wallet.
PhonePe has partnered with Flipkart to digitize cash-on-delivery payments in July 2021.
PhonePe became the official payments partner for KBFC in September 2021.
Edelweiss General Insurance tied up with PhonePe in December 2021 to offer digital motor insurance products.
In April 2022, PhonePe and Extreme IX entered into a strategic partnership to minimize latency in the PhonePe app during transactions.
PhonePe – Advertisements and Social Media Campaigns
PhonePe actively engages in advertisements and social media campaigns to promote its digital payments platform and services. The company has launched successful marketing campaigns to raise brand awareness and drive user engagement.
One of PhonePe’s notable campaigns was launched during the IPL in 2020, featuring popular actors Aamir Khan and Alia Bhatt. This highly successful marketing campaign effectively conveyed the message of encouraging people to embrace digital payments for their convenience and security. The campaign highlighted the seamless transaction experience offered by PhonePe.
In April 2023, PhonePe launched its new brand campaign, ‘PhonePe – Insurance your way’, focused on motor insurance. The campaign aims to convey the unique advantages of purchasing motor insurance through PhonePe, highlighting the convenience, reliability, and absence of unwanted calls or unnecessary add-ons.
PhonePe #InsuranceYourWay Marketing Campaign
The company also utilizes social media platforms to share informative content, customer stories, and special offers, aiming to establish a strong presence in the digital payments industry and educate users about its platform’s advantages.
PhonePe – Awards and Achievements
Some of the prominent awards and achievements received by PhonePe include:
Recognition by the National Payments Corporation of India (NPCI) for driving the largest number of merchant transactions on the UPI network in 2018.
Best Mobile Payment Product or Service Category at the IAMAI India Digital Awards 2019.
Excellence in the Insurtech category at Assocham’s Fintech and Digital Payments Awards 2021.
Winner at the Third ET BFSI Innovation Tribe Virtual Summit & Awards (APAC edition).
Winner at the 8th Annual India Retail and e-Retail Awards 2019.
Winner at the IAMAI 9th India Digital Awards 2019.
Best BFSI Brand 2023 at The Economic Times Best BFSI Brands Conclave.
Best Payment Solutions and Best Insurtech of the Year at the BW Festival of Fintech 2023.
PhonePe – Competitors
The top competitors of PhonePe include Google Pay, Amazon Pay, Whatsapp Pay, Juspay, Paytm, MobiKwik, BharatPe, and more.
GPay is a Google-developed digital wallet platform and online payment service. Released in 2011, GooglePay initially offered contactless payment options.
Amazon Pay was founded in 2007 and serves as an online payment processing service owned by Amazon, headquartered in Seattle.
Whatsapp Pay is a payment service provider powered by the social media giant Facebook, which owns Whatsapp, to help users send and receive money while chatting.
Juspay is an online platform used for mobile-based payments. Juspay was founded in 2012.
Paytm is a pioneer of the Indian eCommerce payment system. It is a financial technology company. Paytm was founded in 2010.
MobiKwik is an Indian company. It has a mobile phone-based payment system. MobiKwik was founded in 2009.
BharatPe is a platform, particularly for retailers and businesses. It is a QR-based payment app. The company was founded in 2018.
PhonePe – Future Plans
The company seeks to leverage its strong user base, innovative technologies, and strategic partnerships to drive growth and expand its market presence. With a focus on seamless payments and financial inclusion, PhonePe aims to enhance its product offerings, expand its merchant network, and provide a comprehensive ecosystem of services. Going public will provide additional investment opportunities and propel the company’s expansion plans in the competitive digital payments landscape.
FAQs
What is PhonePe?
PhonePe is a popular digital payments platform in India, known for its seamless and secure transactions using UPI technology. It allows users to make payments, transfer money, recharge phones, and pay bills through their smartphones.
Who is the founder of PhonePe?
Sameer Nigam, Rahul Chari, and Burzin Engineer are the founders of PhonePe.
What is PhonePe launch date?
PhonePe was founded in 2015.
Who is Burzin Engineer from PhonePe?
Burzin Engineer is the Founder and CRO (Chief Reliability Officer) at PhonePe. He was previously Director of Engineering at Flipkart.
How does PhonePe make money?
The main revenue streams of PhonePe include Transaction fees, Merchant Services, Insurance Brokerage, Affiliate Commissions, Advertising and Promotions, and Data Insights.
What is PhonePe Switch?
PhonePe Switch is a feature within the PhonePe app that allows users to conveniently access a variety of apps and services, such as food delivery, transportation, and e-commerce, all in one place. It eliminates the need to download and install multiple apps individually, providing a seamless experience for users.
What is the PhonePe Merchant Lending Platform?
PhonePe’s Merchant Lending Platform offers digital credit solutions to SMEs through the PhonePe for Business app in partnership with NBFCs, facilitating quick access to funds for their growth.
What is PhonePe valuation?
PhonePe’s valuation has reached $12 billion as of June 2023, reflecting its significant growth and successful fundraising efforts.
How many Phonepe users did the app register?
PhonePe has 50 crore (500 Million) registered users and 3.7+ crore (37+ Million) merchants covering over 99% of the postal codes across India.
Does PhonePe charge customers anything for transactions?
No, transactions made through the PhonePe app are free of charge for customers. There are no additional costs associated with using PhonePe to make transactions.
When was the PhonePe app launched?
PhonePe was founded in 2015, and its app, based on the Unified Payments Interface (UPI), went live in 2016.
What is PhonePe tagline?
PhonePe goes by the tagline “Karte Ja. Badhte Ja”.
What is PhonePe business model?
PhonePe operates on a freemium model, earning through merchant transaction fees, premium services, advertising, and financial products like insurance and mutual funds. It also profits from partnerships with banks and businesses for UPI-based payments.
PhonePe is which country app?
PhonePe is an Indian app. It was founded in 2015 and is owned by Walmart through Flipkart. PhonePe origin country is India.
How would you describe PhonePe in one word?
PhonePe can be described as Fintech in a single word.
Regarding the Enforcement Directorate’s raids on its property in relation to the Mahadev betting app case, online travel aggregator (OTA) Easemytrip has provided an explanation. EaseMyTrip denied any affiliation with the Mahadev app or any other betting site in a statement released today. According to information in the public domain, the Enforcement Directorate (ED) searched more than 50 places belonging to different individuals and corporations. The EaseMyTrip premises was one of them. According to a corporate spokeswoman, EaseMyTrip is entirely committed to working with the authorities during the inquiry, even though the company has no direct or indirect affiliation with the Mahadev Betting App or any other betting platform. The statement was made a day after it was reported that the central investigative agency, ED, had raided multiple locations nationwide connected to Nishant Pitti, the co-founder and Chairman of EaseMyTrip. The ED’s money laundering investigation into the Mahadev betting scam, which defrauded unsuspecting investors of an astounding INR 20,000 Cr, included the searches.
No Conducive Evidence Found
According to a fresh agency report, investigators investigating the case said that no serious proof has been discovered so far during the searches at locations connected to EaseMyTrip. As part of its ongoing money laundering probe into the INR 20,000 Cr Mahadev betting case, ED is reportedly conducting raids at multiple sites throughout the nation connected to Nishant Pitti, co-founder and Chairman of online travel aggregator EaseMyTrip. According to a media house, which cited sources, the raids are presently taking place in 15 different places in India, including Delhi NCR, Mumbai, Chandigarh, Ahmedabad, Indore, Jaipur, Chennai, and Sambalpur. The Mahadev app was operated by Saurabh Chandrakar and Ravi Uppal, according to the ED’s probe. It enabled users to place real-time wagers on sports including tennis, football, and cricket. At its height, the app had close to 10 million users. The ED previously claimed that Bhupesh Baghel, the former chief minister of Chhattisgarh, had collected kickbacks from the Mahadev app’s developers of more than 500 Cr. Baghel, however, denied these allegations, calling them attempts to damage his reputation.
What Exactly is Mahadev Betting Scam?
One of the largest illicit betting schemes in India was the Mahadev Online Book app, which cheated Indian investors out of over INR 20,000 Cr. The Mahadev app was blocked by the Ministry of Electronics and Information Technology (MeitY) in 2023 for breaking the nation’s money laundering regulations. Through questionable banking practices or “hawala” transactions, the app was being used to launder money between India and Dubai, according to the ED’s probe. An estimated INR 20,000 Cr was obtained from the crime in this instance; of that amount, INR 1,100 Cr was transferred into the stock market using fictitious bank firms and dummy accounts. After Chandrakar’s extravagant wedding ceremony in the United Arab Emirates garnered media attention in February 2023, the Mahadev betting app scam was exposed. At least six Indian superstars were paid to perform at the wedding, which cost about INR 200 Cr. Chandrakar’s relatives were transported from India by private aircraft. According to reports, the investigation team later arrested about a dozen people in connection with the money laundering case involving the Mahadev Book app and frozen funds totalling more than INR 1,700 Cr. According to sources, Chandrakar, the suspected mastermind of the Mahadev betting fraud, was taken into custody in the United Arab Emirates in October of last year.
Over the years celebrity endorsements have become an essential part of marketing for all the big companies in India. Celebrity endorsements are a form of an advertising campaign or a marketing strategy that uses the celebrities’ fame or social status to promote their products, brand, and services and bring them to their target audience.
One of the most popular celebrity endorsers is Mahendra Singh Dhoni, who is also known as the Captain Cool and the second-highest-grossing Indian Sportsman. MS Dhoni is a former Indian international cricketer who was the captain of the Indian national team in limited-overs formats from 2007 to 2017 and in test cricket from 2008 to 2014. Under his guidance as a captain, India went on to win the 2007 ICC World Twenty20, the 2010 and 2016 Asia Cups, the 2011 ICC Cricket World Cup, and the 2013 ICC Champions Trophy. The right-handed middle-order batsman and wicketkeeper has won many awards and accords such as the ICC ODI player of the year award, Rajiv Gandhi Khel Ratna, Padma Shri, and Padma Bhushan.
MS Dhoni was also the second Indian cricketer to be conferred the honorary rank of Lieutenant Colonel from the Indian Territorial Army. Under his captaincy, the Chennai Super Kings won in 2010, 2011, and 2018 in the Indian Premier League. He is considered to be one of the greatest wicket-keeper batsmen and captains in the history of cricket.
Due to his achievements in cricket MS Dhoni was listed in Times’s 100 Most Influential People in the World in 2011 and ranked 23rd in the Forbes 2015 list of highest-paid athletes in the world. In 2016, a biopic film was made based on his life, cricket career and the team win at the 2011 Cricket World Cup known as M.S Dhoni: The Untold Story.
Some of the popular MS Dhoni’s brand endorsements would include his contributions to Cars24, Indian Terrain, the State of Jharkhand, RedBus, Pepsico, Colgate, Panerai, LivFast, Indigo Paints, GoDaddy, Bharat Matrimony, Mastercard India, Sumadhura, Snickers India, and more.
Here’s diving into some of the most iconic MS Dhoni brand endorsements:
Let’s look at a list of brands endorsed by MS Dhoni:
LifeWear India
LifeWear India- MS Dhoni Brand Endorsement
Dhoni has always been a face for fitness, endurance, and overall well-being. Recognizing his passion for an active lifestyle, LifeWear India, a leading orthopedic and sports support brand, brought him on board as their brand ambassador.
With years of rigorous training and match experience, Dhoni understands the importance of maintaining peak physical health. In his association with LifeWear India, he aims to help millions take better care of their joints, muscles, and overall body strength.
Whether you are an athlete, fitness enthusiast, or regular user, you will find the brand offers a wide range of orthopedic and sports support products that can help with recovery, pain relief, and enhanced mobility.
This endorsement hopes to motivate people to prioritize their health, embrace an active lifestyle, and incorporate fitness into their daily lives.
Lay’s
Lay’s – MS Dhoni Brand Endorsement
MS Dhoni teamed up with Lay’s, one of the world’s most popular snack brands, to add an extra crunch to the cricketing excitement. The campaign featured Dhoni in a fun and engaging avatar, celebrating the joy of snacking while enjoying thrilling cricket moments. His association with Lay’s resonated strongly with fans, as it tapped into the nostalgia of watching matches with friends and family over a pack of chips.
With Dhoni’s effortless charm and deep connection with cricket lovers, Lay’s successfully reinforced its position as the go-to snack for every cricket-watching experience. The campaign blended humor, passion, and Dhoni’s legendary status to make game-time even more enjoyable for fans across India.
Garena Free Fire India
Garena Free Fire – MS Dhoni Brand Endorsement
Dhoni’s growing influence in the gaming world reached new heights with Garena Free Fire India, a popular battle royale game. Not only did he become the official brand ambassador, but he was also introduced as a playable in-game character, a first for any Indian cricketer.
For millions of fans, this was a groundbreaking moment. Players could now embody their favorite cricketer in virtual battlefields, adding a unique level of engagement to the game. His in-game character, named “Thala,” paid homage to his legendary status in Indian cricket.
This endorsement cemented Dhoni’s status in the gaming community, appealing to younger audiences and esports enthusiasts across the country.
Asian Footwear
Asian Footwear – MS Dhoni Brand Endorsement
Dhoni’s impeccable style and personality have always set him apart, making him a natural fit for Asian Footwear, a well-known Indian brand specializing in stylish and durable shoes.
Through this collaboration, he promoted the brand’s high-quality sports shoes, casual wear, and athleisure footwear, catering to the needs of modern consumers. His association not only reinforced Asian Footwear’s credibility but also positioned it as a leading player in the competitive footwear market.
As someone who values comfort and durability, Dhoni’s endorsement ensured that Asian Footwear gained recognition among fitness enthusiasts, young professionals, and sports lovers alike.
Swaraj Tractors
Swaraj Tractors – MS Dhoni Brand Endorsement
A passionate advocate for Indian agriculture, Dhoni took his love for farming to the next level by partnering with Swaraj Tractors, a leading manufacturer of agricultural machinery.
As the brand ambassador, he promoted modern mechanized farming solutions, emphasizing how innovation can enhance productivity for Indian farmers. Given his own experience with organic farming, Dhoni’s association with Swaraj Tractors felt genuine and inspiring to rural communities.
His campaign focused on educating farmers about efficient techniques, modern tractors, and sustainable farming methods, reinforcing his commitment to India’s agricultural progress.
Skipper Pipes
Skipper Pipes – MS Dhoni Brand Endorsement
During the IPL 2023 season, Dhoni partnered with Skipper Limited, a company specializing in polymer pipes and fittings. Sharing the screen with fellow cricket legend Chris Gayle, he featured in a high-energy advertisement campaign promoting the brand’s strong and reliable piping solutions.
Skipper Pipes, known for their quality and innovation in infrastructure, benefitted immensely from Dhoni’s credibility. His endorsement helped the brand connect with a wider audience in the construction, real estate, and industrial sectors.
JioCinema
JioCinema – MS Dhoni Brand Endorsement
As the Indian audience shifted toward digital platforms for sports viewing, JioCinema roped in Dhoni as a brand ambassador for their IPL 2023 streaming campaign.
Through engaging commercials and promotional content, Dhoni played a vital role in attracting users to the platform. His endorsement helped JioCinema establish itself as the go-to digital streaming destination for live cricket matches.
With millions of IPL fans watching games online, Dhoni’s presence made a significant impact in driving viewership and brand loyalty for JioCinema.
Cure and Beyond
Cure and Beyond – MS Dhoni Brand Endorsement
MS Dhoni, known for his resilience, leadership, and ability to inspire millions, has joined hands with Emcure Pharmaceuticals to champion the “Cure and Beyond” initiative. This collaboration goes beyond mere brand endorsement—it represents a shared commitment to healthcare, innovation, and making a lasting impact on people’s lives.
Together, they symbolize strength, trust, and a relentless pursuit of excellence. With Dhoni’s credibility and Emcure’s expertise in healthcare solutions, “Cure and Beyond” aims to raise awareness, promote better healthcare access, and empower individuals to take charge of their well-being.
WinZO
WinZO – MS Dhoni Brand Endorsement
Dhoni’s influence in the gaming world expanded further when he became the face of WinZO, a social skill-gaming platform.
His role in WinZO’s marketing campaigns promoted exciting online competitions, fantasy sports, and skill-based games, attracting young gamers to the platform.
As an individual known for his strategic thinking and tactical approach in cricket, Dhoni’s endorsement encouraged gamers to test their skills and enjoy competitive gaming in a safe and engaging environment.
State Bank of India (SBI)
State Bank of India (SBI) – MS Dhoni Brand Endorsement
In October 2023, MS Dhoni was officially announced as the brand ambassador of the State Bank of India (SBI)—one of the country’s most trusted financial institutions. This partnership is a natural fit, as both Dhoni and SBI symbolize dependability, integrity, and unwavering commitment.
Through this collaboration, Dhoni was featured in a series of advertisements that emphasized the bank’s customer-centric approach, digital banking solutions, and legacy of trust. His association with SBI was also strategically timed with the ICC Men’s Cricket World Cup 2023, further strengthening the brand’s visibility and recall.
Association of Mutual Funds in India (AMFI)
Association of Mutual Funds in India (AMFI) – MS Dhoni Brand Endorsement
In a bid to make Indians more financially aware and encourage investment habits, Dhoni joined hands with the Association of Mutual Funds in India (AMFI). As the face of their “Mutual Funds Sahi Hai” campaign, Dhoni lent his credibility to promote the importance of long-term financial planning.
His involvement was instrumental in building trust among middle-class investors and first-time mutual fund buyers, as he represented qualities of patience, strategy, and smart decision-making—values that align with the essence of investing.
Emotorad
Emotorad – MS Dhoni Brand Endorsement
In a fun and quirky collaboration, Dhoni teamed up with Emotorad, a brand that manufactures electric bicycles (e-bikes). The brand’s campaign featured Dhoni riding the T-Rex Air e-cycle while humorously singing the nostalgic Bollywood song “Bole Jo Koyal”.
This partnership not only showcased Dhoni’s lighter and more playful side but also aligned with the growing movement towards eco-friendly transportation in India. His endorsement brought a significant boost in awareness for e-bikes, encouraging fitness enthusiasts and daily commuters to choose greener and more sustainable travel options.
Citroën India
Citroën India – MS Dhoni Brand Endorsement
In 2024, Dhoni joined hands with Citroën India, a French automobile manufacturer, as their brand ambassador. His association with Citroën aims to enhance the brand’s visibility and trust factors among Indian consumers.
Given Dhoni’s passion for automobiles and his extensive car and bike collection, this collaboration feels like a natural fit. The campaign featuring him focuses on Citroën’s innovative designs, comfort, and high-performance vehicles, appealing to young and mature audiences.
Gulf Oil
Gulf Oil – MS Dhoni Brand Endorsement
Dhoni has been the long-term face of Gulf Oil, and in 2024, the partnership continued to evolve. The campaign showcases Gulf Oil’s high-performance lubricants for automobiles, reinforcing their commitment to engine efficiency and durability. Given Dhoni’s reputation for consistency, reliability, and peak performance, this endorsement further strengthens the brand’s credibility in the automotive sector.
Orient Electric
Orient Electric – MS Dhoni Brand Endorsement
Dhoni’s association with Orient Electric aimed to promote smart, energy-efficient home appliances, including fans, lighting, and air-cooling solutions. His reputation for making cool-headed, calculated decisions aligns with Orient Electric’s promise of innovation and reliability. The campaign appeals to homeowners and businesses looking for high-quality electrical solutions.
Eurogrip Tyres
Eurogrip Tyres – MS Dhoni Brand Endorsement
Dhoni extended his endorsement portfolio in the automobile industry by joining hands with Eurogrip Tyres, a leading brand in two-wheeler tyres. The campaign focuses on safety, control, and performance, mirroring Dhoni’s disciplined and calculated approach on the cricket field. With India being a major market for motorcycles and scooters, Dhoni’s endorsement adds credibility and trust to the brand.
Election Commission of Jharkhand
Election Commission of Jharkhand – MS Dhoni Brand Endorsement
Beyond commercial endorsements, Dhoni took on a social role by collaborating with the Election Commission of Jharkhand to encourage voter participation in the state elections.
Given his deep roots in Jharkhand, where he hails from, this partnership aims to increase voter awareness and turnout. His credibility and mass appeal make him an effective advocate for democratic participation, reinforcing the importance of voting among citizens.
Zed Black Agarbatti
Zed Black Agarbatti – MS Dhoni Brand Endorsement
MS Dhoni joined hands with Zed Black Agarbatti, one of India’s leading incense stick brands, as their brand ambassador. This partnership goes beyond mere product promotion—it reflects Dhoni’s deep connection with discipline, focus, and inner peace, qualities he is known for both on and off the field.
As part of the campaign, Dhoni promotes the message “Prarthna Hogi Sweekar” (Every Prayer Will Be Heard), reinforcing the power of prayers, positivity, and spiritual well-being. His association with Zed Black Agarbatti aligns with the brand’s commitment to spreading calmness and devotion in every household.
Kopiko
Kopiko – MS Dhoni Brand Endorsement
In a delightful partnership, MS Dhoni joined forces with Kopiko, a globally recognized brand known for its coffee-flavored candies and beverages. This collaboration highlights the shared values of energy, endurance, and refreshment—traits that define both Kopiko’s products and Dhoni’s legendary cricketing career.
As a player who has consistently displayed unwavering focus and stamina, Dhoni’s association with Kopiko aims to inspire consumers to stay energized and refreshed throughout their day.
Whether it’s an intense cricket match or a long workday, Kopiko’s coffee-infused treats provide the perfect boost of alertness and motivation—just like Dhoni’s presence on the field does for his fans.
Tagda Raho
Tagda Raho – MS Dhoni Brand Endorsement
MS Dhoni’s collaboration with Tagda Raho, a fitness brand promoting traditional Indian fitness training, is a perfect blend of heritage and modern athleticism. Known for his exceptional fitness and discipline throughout his cricketing career, Dhoni embodies the essence of endurance, strength, and agility—values that Tagda Raho stands for.
This partnership highlights age-old Indian fitness practices, such as akharas, wrestling workouts, yoga, and functional training, which have been followed by generations of Indian warriors and athletes.
Maxivision Super Specialty Eye Hospital
Maxivision Super Specialty Eye Hospital – MS Dhoni Brand Endorsement
In 2024, MS Dhoni partnered with Maxivision Super Specialty Eye Hospital, a leading healthcare chain specializing in advanced eye treatments. As a sports legend known for his sharp vision and quick reflexes, Dhoni’s association with Maxivision reinforces the importance of eye health for overall well-being. The campaign focuses on spreading awareness about regular eye check-ups, early diagnosis of vision problems, and the latest advancements in eye care.
With his influence, Maxivision aims to encourage people to prioritize their eye health, ensuring they have clear vision for a brighter future—whether on the field, at work, or in everyday life.
JioMart
JioMart – MS Dhoni Brand Endorsement
In his continuous journey of endorsing brands that impact everyday lives, MS Dhoni partnered with JioMart, Reliance’s e-commerce platform, to promote seamless and affordable online grocery shopping. His association with JioMart aligns with the brand’s mission of providing high-quality products at competitive prices, making daily essentials accessible to millions of Indians.
Through engaging ad campaigns, Dhoni emphasizes JioMart’s convenience, vast product range, and doorstep delivery services. His trusted persona makes him the perfect ambassador to reinforce JioMart’s commitment to affordability and efficiency, encouraging Indian households to embrace the ease of digital shopping.
Rigi
Rigi – MS Dhoni Brand Endorsement
In 2023, MS Dhoni partnered with Rigi, a content monetization platform designed to help influencers and creators maximize their earnings. As the brand ambassador, Dhoni supports Rigi’s vision of enabling digital content creators, educators, and influencers to build sustainable income streams through memberships, courses, and exclusive communities.
Given Dhoni’s disciplined approach and ability to inspire millions, his association with Rigi adds credibility to the platform. The collaboration aims to encourage budding creators to leverage digital tools for growth, much like how Dhoni himself adapted and evolved throughout his cricketing career. This partnership highlights the increasing importance of content monetization in India’s digital landscape.
Kinley
Kinley – MS Dhoni Brand Endorsement
MS Dhoni’s association with Kinley, Coca-Cola’s packaged drinking water brand, reinforces the importance of staying hydrated with safe and pure water. Known for his disciplined fitness regime and active lifestyle, Dhoni’s endorsement aligns perfectly with Kinley’s promise of trust and purity.
His presence in the campaign highlights the significance of clean drinking water for maintaining good health, especially for athletes and fitness enthusiasts. With his credibility and strong influence across all age groups, Dhoni’s collaboration with Kinley enhances the brand’s connection with consumers looking for reliable hydration solutions.
MYK LATICRETE
MYK LATICRETE – MS Dhoni Brand Endorsement
In November 2022, MYK LATICRETE, a leader in the tile and stone installation industry, announced MS Dhoni as its national brand ambassador. This collaboration aims to educate both influencers and consumers about innovative tile and stone installation solutions, emphasizing the importance of using superior quality and durable products.
Building on this partnership, in December 2023, MYK LATICRETE launched a campaign featuring MS Dhoni to deepen consumer engagement in the tile installation process. The campaign addresses a common oversight where consumers focus on tile selection but often neglect crucial installation steps, such as choosing appropriate tile adhesives and grouts. By highlighting these aspects, the campaign aims to ensure the longevity, stability, and aesthetics of tiled surfaces.
Navi
Navi – MS Dhoni Brand Endorsement
MS Dhoni, known for his sharp decision-making and reliability, partnered with Navi, a leading fintech company, to promote hassle-free financial solutions. Navi offers instant personal loans, affordable mutual funds, and easy-to-use financial products, making wealth management accessible to a broader audience.
Through this collaboration, Dhoni’s image as a calm, strategic leader aligns with Navi’s vision of simplifying finance with seamless digital experiences.
Fire-Boltt
Fire-Boltt – MS Dhoni Brand Endorsement
MS Dhoni joined hands with Fire-Boltt, one of India’s leading affordable smartwatch brands, to promote fitness and smart living. As someone who has always emphasized the importance of health, discipline, and peak performance, Dhoni’s collaboration with Fire-Boltt perfectly aligns with the brand’s mission of making smartwatches accessible to everyone.
Through this partnership, Dhoni endorses Fire-Boltt’s feature-packed wearables, encouraging users to track their health, monitor fitness goals, and stay active. The campaign highlights how smartwatches are not just for tech enthusiasts but also for athletes and everyday fitness-conscious individuals.
Turtlemint
Turtlemint – MS Dhoni Brand Endorsement
MS Dhoni partnered with Turtlemint, a leading insurance marketplace, to promote awareness about the importance of choosing the right insurance. Known for his strategic thinking on the cricket field, Dhoni’s collaboration with Turtlemint emphasizes the need for well-informed financial decisions, just like a well-planned cricket strategy.
The platform enables users to compare and buy insurance policies with ease, ensuring they make the best choices for their financial security. His association with Turtlemint adds trust and credibility, encouraging more people to take charge of their insurance needs with confidence.
G Square Housing
G Square Housing – MS Dhoni Brand Endorsement
In February 2022, G Square Housing, South India’s largest land aggregator and plot promoter, announced MS Dhoni as their brand ambassador. This collaboration aligns with G Square’s growth strategy in Chennai, Coimbatore, and Bengaluru, and their plans for pan-India expansion.
Dhoni expressed his delight in associating with a trusted Chennai-based plot promoter, highlighting his affection for the city and its people. The partnership aims to strengthen G Square’s brand presence and reach across multiple geographies.
Reebok
Reebok – MS Dhoni Brand Endorsement
MS Dhoni teamed up with Reebok India, marking a significant collaboration between the global sportswear giant and one of India’s most celebrated athletes. Known for his disciplined fitness regime and unwavering commitment to peak performance, Dhoni perfectly embodies Reebok’s philosophy of pushing boundaries and embracing an active lifestyle.
This partnership highlights Reebok’s focus on high-performance sports gear, fitness apparel, and footwear tailored for athletes and fitness enthusiasts alike.
ITC
ITC – MS Dhoni Brand Endorsement
In 2022, MS Dhoni collaborated with ITC’s Sunfeast YiPPee! noodles, featuring in a television commercial that highlighted the brand’s unique non-sticky noodles. The advertisement showcased Dhoni enjoying a bowl of YiPPee! noodles with children, emphasizing the product’s appeal among all age groups.
This partnership underscored Dhoni’s enduring popularity and his ability to connect with consumers, reinforcing Sunfeast YiPPee!’s position in the instant noodles market.
Neuberg Diagnostics
Neuberg Diagnostics – MS Dhoni Brand Endorsement
In his continued effort to support health and wellness, MS Dhoni partnered with Neuberg Diagnostics, a leading diagnostic lab known for providing high-quality medical testing services. As the brand ambassador, Dhoni features in promotional videos and images, reinforcing the lab’s credibility and commitment to accurate, reliable diagnostics.
Given his reputation for discipline, trustworthiness, and precision—both on and off the field—his association reassures patients about the lab’s expertise. This collaboration aims to encourage people to prioritize regular health checkups, making advanced diagnostics more approachable for the masses.
Unacademy
Unacademy – MS Dhoni Brand Endorsement
MS Dhoni partnered with Unacademy, one of India’s leading EdTech platforms, to inspire students and lifelong learners. Through promotional videos and campaigns, Dhoni’s journey from a small-town cricketer to one of the world’s most successful captains serves as a powerful motivational story.
His disciplined, self-made image resonates deeply with students striving to overcome challenges and achieve their dreams.
The collaboration focuses on qualities like perseverance, strategic thinking, and continuous learning—values that are crucial for both sports and academics. By associating with Unacademy, Dhoni encourages learners to stay committed, work hard, and believe in themselves, making education more engaging and aspirational.
HomeLane
HomeLane – MS Dhoni Brand Endorsement
MS Dhoni partnered with HomeLane, a leading home interior brand, bringing his trusted image to the world of personalized home solutions. As a cricketer known for precision and planning, his association with HomeLane emphasizes the brand’s commitment to customized, hassle-free, and time-bound home interiors.
This collaboration aims to connect with homeowners who seek stylish yet functional living spaces, ensuring quality craftsmanship and seamless execution—just like Dhoni’s game strategy on the field. His endorsement reinforces the idea that designing one’s dream home should be as smooth and efficient as Dhoni’s leadership on the pitch.
Oreo
Oreo – MS Dhoni Brand Endorsement
In 2022, Oreo, the globally loved cookie brand, partnered with MS Dhoni for a special campaign that aimed to bring a fun and nostalgic twist to its branding. Dhoni’s involvement added a touch of nostalgia and excitement, making it one of the most talked-about marketing campaigns in the snacking category.
The collaboration successfully blended cricket fever with Oreo’s playful brand messaging, creating a buzz among both cricket fans and Oreo lovers.
Kauvery Group of Hospitals
Kauvery Group of Hospitals – MS Dhoni Brand Endorsement
In his ongoing commitment to social impact, MS Dhoni partnered with Kauvery Group of Hospitals, a leading healthcare provider in India. This collaboration focuses on promoting advanced medical services, preventive healthcare, and the importance of timely medical intervention.
Given Dhoni’s reputation for discipline, fitness, and a healthy lifestyle, his association with Kauvery Group encourages people to prioritize their well-being.
The campaign highlights the hospital’s state-of-the-art facilities, patient-centric approach, and expertise in specialized medical treatments.
Through his endorsement, Dhoni aims to spread awareness about quality healthcare, urging individuals to take proactive steps in managing their health. His trusted presence makes this initiative more impactful, reaching a wide audience across India.
SRMB Steel
SRMB Steel – MS Dhoni Brand Endorsement
MS Dhoni, known for his resilience and strong leadership, became the brand ambassador for SRMB Steel, a leading manufacturer of TMT bars and steel products. Just like Dhoni’s rock-solid presence on the cricket field, SRMB Steel represents durability, strength, and reliability in the construction industry.
Cleartrip
Cleartrip – MS Dhoni Brand Endorsement
Dhoni’s collaboration with Cleartrip, one of India’s leading online travel booking platforms, aligns perfectly with his image as a planner and strategist. The campaign highlights how Cleartrip makes travel seamless, efficient, and hassle-free—qualities that resonate with Dhoni’s approach to leadership. This association reinforces the brand’s commitment to providing smooth and easy travel experiences for Indian customers.
Cars24
Cars24 – MS Dhoni Brand Endorsement
Cars24 is a Gurgoan-headquartered, online platform for buying and selling used cars in India. The company is known to have revolutionized the way pre-owned cars are sold in the country. It currently sells more than 150,000 cars annually. The company was founded by Vikram Chopra, Mehul Agrawal, Gajendra Jangid, and Ruchit Agarwal in 2015.
The company recently announced that it going to get into a franchise model in order to scale up its presence in 300 plus tier two, three, and four markets in 2021. The company made a strategic partnership with MS Dhoni, where the cricketer will own equity in CARS24 and will act as the company’s brand ambassador to elevate and strengthen the brand as it continues to expand across markets.
In an Interview Vikram Chopra, the Co-founder of and CEO of CARS24 said that, “Dhoni is a role model to most Indians because of his ability to constantly evolve, innovate and find solution to every problems thrown at him over the years making him one of the most celebrated captain in the Indian history. These are the same values that CARS24 live by, which is why this partnership is perfect.”
redBus
redBus – MS Dhoni Brand Endorsement
redBus is an Indian online platform that provides ticket booking facilities for buses through its website, iOS, and Android mobile apps. The company is headquartered in Bengaluru and is known to have a network of over 2,500 bus operators in countries like India, Singapore, Malaysia, Peru, Indonesia, and Colombia.
The company was acquired by Ibibo Group and claims to have registered more than 180 million trips with a customer base of over 20 million so far. The company made MS Dhoni its brand ambassador in 2019 after the cricketer’s strong performance as a player and a captain in the 2019 IPL. The IPL or the Indian Premier League is not only a fantastic cricketing event, the IPL also has a huge effect on the Indian economy. People around the world make an unbelievable amount of money via IPL.
The company is looking towards reaching a larger customer base with Dhoni as its brand ambassador. In the ad, the cricketer appears as a hockey player avatar for his first cameo for the brand. The company with the help of Dhoni also reached its audience across the country through social media platforms.
Colgate
Colgate – MS Dhoni Brand Endorsement
Colgate Palmolive Limited is an American company that is a leader in India for scientifically proven oral care products. The company is known for its products like toothbrushes, dental floss, tooth powder, mouthwash, and other specialized range of dental therapies. Colgate Palmolive India Ltd was originally incorporated in 1937.
In March 2019, Colgate went on to publish a couple of television commercials that featured not only MS Dhoni but also his wife Sakshi Dhoni. The campaigns are based on keeping our teeth strong from within with the tagline “Andar Se Strong.”
Boost
Boost – MS Dhoni Brand Endorsement
Boost is one of the leading malt-based or cereal-based beverages that was originally launched in 1975. The brand is known to be clinically proven and it increases stamina by three times more.
The drink is available in chocolate flavor and continues to be a leader in the health food drinks market. The ‘Ready to Sip’ pack of Boost is also available for on-the-go consumption. Boost has over 17 essential vitamins and minerals that help in increasing stamina and energy.
The company has a history of having iconic Indian Cricketers to be its brand ambassadors such as Kapil Dev, Sachin Tendulkar, Virender Sehwag, to Mahendra Singh Dhoni, and Virat Kohli, Rishabh Pant, and Shreyas Iyer in the recent times. It is due to the Boost commercials done by these esteemed sportsmen with the tagline of ‘Boost is the secret of my energy, the brand has become a household name.
GoDaddy
GoDaddy- MS Dhoni Brand Endorsement
GoDaddy Inc is an American company that is one of the most trusted domain registrar and web hosting companies that is headquartered in Scottsdale, Arizona. GoDaddy has more than 20 million customers and more than 7,000 employees worldwide. The company is known for its advertising on TV, in newspapers, and for the fact that it empowers people with creative ideas to succeed online.
MS Dhoni is its current brand ambassador, with his help the company launched a successful ad campaign in order to get deeper into smaller markets where there is a rapid digital acceleration. In the commercial Dhoni is seen in the role of a business advisor, who is encouraging small business owners and entrepreneurs to get a domain name in order to complete their online business setup.
Dream11
Dream11 – MS Dhoni Brand Endorsement
Dream11 is an online platform for Indian fantasy sports, the company allows its users to play fantasy cricket, hockey, football, kabaddi, and basketball. Dream11 became a unicorn Indian company in April 2019.
The company made MS Dhoni its brand ambassador, who so far has appeared in many multichannel marketing campaigns and brand engagement activities. The company aims to grow and strengthen its leadership position in the online sports gaming market.
Speaking about MS Dhoni’s association with Dream11 in an interview, the cricketer said that he is delighted to be associated with the company that gives millions of sports fans an opportunity to be the decision-maker, create their own team, and experience the game first-hand. Dream11’s platform perfectly portrays the importance of choosing the right players and building a team as per the playing conditions.
Bharat Matrimony
Bharat Matrimony – MS Dhoni Brand Endorsement
Bharat Matrimony is a popular and leading online matrimony service in India, which is also a part of Matrimony.com. Bharat Matrimony was founded by Murugavel Janakira, who also met his wife through his own matrimony site.
BharatMatrimony has more than 130 offices in the country and international offices in countries like Dubai, Sri Lanka, the United States, and Malaysia in order to cater to its customer needs beyond India. The iconic cricketer MS Dhoni was made the brand ambassador of BharatMatrimony in 2018.
In an Interview, Murugavel Janakiraman, the CEO of Matrimony.com said that they were proud to be associated with an iconic cricketer. He also added that it is a good fit because Dhoni is an inspiration for millions of youth because of what he’s achieved for the country through his admirable leadership qualities. Dhoni also inspires people through his happy marriage, his caring dad, and his loving husband’s image.
Snickers
Snickers – MS Dhoni Brand Endorsement
Snickers is an extremely popular chocolate brand that is made by the American company Mars, Incorporated. The famous chocolate is made of three layers which are Nougat, caramel and Peanuts enrobed with milk chocolate. Snickers chocolate was considered a leader in 2004 in that segment, when the annual global sales of Snickers was $2 million.
Dhoni became the company’s brand ambassador in 2018 and has also been featured in many of its television commercials to promote chocolate in India.
The company mentioned in a statement that the brand is loved across the world for its cool quotient and there is no one who personifies that better than our very own captain cool. Dhoni also mentioned that this association for him was a natural fit as nothing can satiate the angry hunger as well as snickers.
Oppo
Oppo – MS Dhoni Brand Endorsement
Oppo is a well-known Chinese consumer electronics and mobile communications company whose parent company is BBK Electronics. The company’s headquarters is based in Dongguan, Guangdong. Its portfolio of products are smartphones, audio devices, power banks, blu ray players, and other electronic products.
Oppo was first launched in 2004 and has so far expanded to over 40 countries selling phones at over 200,000 retail stores.
Dhoni became the company brand ambassador in 2020 continuing the trend of sponsorship deals before the IPL season. The campaign #BeTheInfinite has featured Dhoni promoting Oppo’s upcoming smartphones as well as the IPL. This Oppo campaign has been designed to motivate people to keep their passion alive even amidst a world full of hurdles. The popular phone manufacturing company had also launched a new variant of Reno 4 Pro, which came in Galactic Blue colour and was signed by the former captain of the Indian cricket team.
Wardwiz
Wardwiz – MS Dhoni Brand Endorsement
Wardwiz is a German company that provides IT security solutions firm. The company is now one of the top IT security brands in India as it provides a system essential package for personal and professional use of computer systems. Wardwiz is known for its antivirus packages that are sold at affordable prices.
In 2019, the company signed MS Dhoni as its brand ambassador, the cricketer was reportedly paid over Rs 15 crore on the multi-year advertisement contract. The cricketer was featured in many multimedia ad commercials and showcases the uses of the antivirus.
Mastercard India
Mastercard – MS Dhoni Brand Endorsement
Mastercard Inc. is a multinational financial service corporation that has its headquarters in New York City. Mastercard Worldwide is a cooperative that is owned by more than 25,000 financial institutions that issue its branded debit, credit, and prepaid cards. In 2018, the company signed MS Dhoni as the brand ambassador for India.
The company launched a nationwide initiative called Team Cashless India with the cricketer in order to accelerate the acceptance and adoption of digital payments. This campaign also aims in encouraging merchants who currently do not accept digital payments to start using them.
Garuda Aerospace
Garuda Aerospace – MS Dhoni Brand Endorsement
MS Dhoni has invested an undisclosed amount and became the brand ambassador of Garuda Aerospace on July 6, 2022. Garuda is a Chennai-based drone startup that was founded in 2015 by Jayaprakash, and operates as a drone-as-a-service (DaaS) startup. Garuda designs, customises, and manufactures drones for a range of use cases including deliveries, agriculture, disaster management, and other services. With an undisclosed investment in the drone startup, Dhoni became a part of the company’s captable along with being the brand ambassador of Garuda.
“Mahi Bhai is the epitome of Dedication & I firmly believe that having Captain Cool on our Cap table adds tremendous value which will motivate our team to perform better”, said Agnishwar Jayaprakash, the Founder and CEO of Garuda. Drones are quite in demand now and have turned into one of the latest gadgets and technology to fuel growth for startups. The Indian government has already been empowering drones and drone startups via numerous Indian government schemes for startups in India, including “kisan drones” and “Drone Shakti”.
LivFast
LivFast – MS Dhoni Brand Endorsement
LivFast is an upcoming power specialist in India and the subsidiary of SAR Group which is a conglomerate. The company is also known for its products such as Automotive Batteries, Inverters, Inverter Batteries, and Solar Applications. The company is a power specialist as it provides many power backup solutions.
Livfast signed MS Dhoni as its brand ambassador in 2018. MS Dhoni was a part of the multimedia ad campaign called “Faster hai to hai”. With the help of the campaign, the company aims to establish the company as the fastest inverter in the market.
Indigo Paints
Indigo Paints – MS Dhoni Brand Endorsement
Indigo Paints is one of the top paint companies in India. The company has its headquarters in Pune, Maharashtra, with manufacturing facilities in Jodhpur, Pudukkottai, and Kochi. The company is also known for its wide range of decorative paints, emulsions, enamels, wood coatings, primers, putties, cement paint, etc.
MS Dhoni was signed as the brand ambassador of the company in 2018 for three years. The ace cricketer was featured in all the marketing and promotional campaigns of Indigo Paints. The company has kept a budget of Rs 200 crore on advertising for the three-year period.
Netmeds
Netmeds – MS Dhoni Brand Endorsement
Netmeds is an online pharmacy and a subsidiary of Dadha & Company which is one of India’s most trusted pharmacies, with over 100 years plus experience in manufacturing medicines. Netmeds currently has a huge inventory of over 35,000 stock-keeping units of prescription drugs and 5,000 OTC products.
The cricketer was signed as the brand ambassador of Netmeds in 2018. Commenting on the association MS Dhoni said that, Netmeds is making important medicine more available and affordable, which is a great thing for India. MS Dhoni has appeared in many Netmed ads and has spoken about the benefits of buying medicine from Netmeds.
Conclusion
The former Indian captain MS Dhoni is the Second highest-grossing Indian cricketer and sportsman in the country. The captain cool have retired but in terms of brand endorsements are before Virat Kohli and after Sachin Tendulkar, both who whom are iconic cricket players.
This shows that MS Dhoni continues to be most loved cricketer of our generation as his fans adore and worship him. Dhoni’s insight, humbleness, positive energy, and dependability alongside his engaged leadership attributes are what makes him a favorite of the advertising world too. All in all, Dhoni is known to have all the ideal properties that coordinate with many brands’ images.
Frequently Asked Questions
Who is Mahendra Singh Dhoni?
MS Dhoni is a former Indian International cricketer who was the captain for the Indian national team in limited-overs formats from 2007 to 2017 and in test cricket from 2008 to 2014.
Which financial services brand did Dhoni endorse?
Dhoni endorsed brands like Mastercard India.
What is the fee of Dhoni advertising?
Dhoni’s endorsement prowess is undeniable, commanding fees ranging from INR 1 to 2 crore for social media endorsements alone.
The Tata Neu SBI Card has been introduced by SBI Card, the biggest pure-play credit card issuer in India, in collaboration with Tata Digital. Through this partnership, a co-branded credit card—the Tata Neu Infinity SBI Card and the Tata Neu Plus SBI Card—is now offered. By offering NeuCoins as rewards, both cards seek to provide a high-end buying experience. With the Tata Neu Plus SBI Card, cardholders can earn up to 7% in rewards, while with the Tata Neu Infinity SBI Card, they can earn up to 10%. These incentives, which include a range of living requirements like food, travel, and fashion, can be redeemed via the Tata Neu app. The new co-branded card offers alluring perks for regular purchases. With the RuPay version, cardholders may get up to 1.5% back on UPI transactions, and with Tata Neu, they can get up to 5% back on bill payments.
How to Apply for it?
Customers can apply online using SBI Card SPRINT or in person at specific Croma locations, making the application procedure easier. The Tata Neu Plus SBI Card costs INR 499, plus applicable taxes, while the Tata Neu Infinity SBI Card costs INR 1,499, plus a joining and yearly renewal charge. The Tata Neu SBI Card enhances the total premium experience by providing free access to both domestic and international airport lounges in addition to rewards. By meeting certain spend levels, cardholders can avoid paying the yearly charge thanks to the cards’ spend-based fee reversal feature. To reverse the annual cost, for example, Tata Neu Plus SBI Cardholders must spend INR 100,000 annually, but Tata Neu Infinity SBI Cardholders must spend INR 300,000. SBI Card and Tata Digital’s partnership demonstrates their dedication to offering Indian customers value-driven goods.
Enhancing Consumers’ Lifestyle
Salila Pande, MD & CEO of SBI Card, elaborated on the new partnership by saying that consumers’ lifestyle needs have expanded in the modern day due to changing tastes. SBI is thrilled to collaborate with Tata Digital to improve its clients’ lifestyles. SBI’s dedication to providing customer-focused products that give the best-in-class value is demonstrated by this cooperation. With a combination of unmatched advantages and smooth simplicity, the Tata Neu SBI Card is made to provide a comprehensive experience that enhances every transaction and elevates the shopping experience. The card is a noteworthy addition to SBI’s extensive line of co-branded credit cards.
Tata Digital’s MD and CEO, Naveen Tahilyani, echoed these remarks when he said that the Tata Neu Card, in collaboration with SBI Card, embodies the company’s mission and reinforces its dedication to providing seamless, fulfilling experiences to the contemporary Indian customer. It combines the strength of reputable brands to provide genuine value and reinvent credit and loyalty in India. These declarations highlight both businesses’ strategic attitude to collaborating and innovating to satisfy changing customer demands.
As part of a reorganisation process, the American mortgage company Fannie Mae laid off 700 workers. Of these, 200 were primarily Telugu-born and were sacked on “ethical grounds” due to financial irregularities. Allegedly, at least 200 Indian-American workers were let go for working with Telugu groups to misuse Fannie Mae’s matching grants programme. One Indian-American congressman has asked the firm for a statement in the wake of the widespread layoffs. Fannie Mae, also referred to as the Federal National Mortgage Association (FNMA), is a government-owned company in the United States. Telugus make up the majority of the 200 employees who were sacked for salary theft, according to sources. The matching grants programme is intended to encourage charitable contributions and is a payout that is an extension of employees’ compensation.
How Employees Misuse Company to Craft the Scam?
The fired employees allegedly worked with charitable groups, some of which were connected to the Telugu community in the US, and fabricated donations to obtain company funding, according to a report released by a media outlet. One of these groups is the Telugu Association of North America (TANA), which is the subject of the dispute. According to the article, one of the fired employees is the spouse of a former American Telugu Association (ATA) president, and another is the regional vice president of the TANA organisation. Already, TANA was being scrutinised for allegedly misusing corporate matching grants. A joint investigation between the FBI, IRS, and DOJ is underway. According to the report, Apple dismissed over 100 workers in January for allegedly abusing its matching grants programme. The workers allegedly conspired with nonprofits to fabricate documents and syphon off matching funds for their own use.
Congressman Putting Blame on Fannie Mae
TANA is not the only non-profit group engaged with the problem, according to people who are aware of the development. Investigations were reportedly underway on other associations as well. On April 9, Indian-American Congressman Suhas Subramanyam stated that he had been informed that Fannie Mae had accused hundreds of his Indian-American constituents of engaging in fraudulent activities and dismissed them without carrying out a thorough investigation or presenting supporting documentation. According to a media report, Subramanyam defended the workers and demanded an “immediate” answer from the business, arguing that they were entitled to due process.
Indian-American lawmakers are now standing up for the Telugu workers who were fired by Fannie Mae. Even though fraud should be treated with zero tolerance, a thorough investigation and procedure should be followed before terminating an employee. For this, the members of Congress are battling it out.
Planck, an innovative digital infrastructure startup focused on next-generation data centre solutions, has successfully raised $500K in its ongoing pre-Seed funding round, at a valuation of INR 30 crore. The round is led by Saarthee Actionable Insights, a US-based analytics firm, which will also bring strategic collaboration to accelerate Planck’s go-to-market and sales outreach efforts.
The funding will be used to expand its market outreach and set up its first fully sustainable modular edge data centres in India. Planck is a B2B startup specialising in monetising various edge-focused use cases and designing the infrastructure to suit the needs of the customer. Planck offers these data centres on BOOT, Lease, and Lease-to-own models to customers globally. These EDCs are capable of supporting cutting-edge AI & Analytics tools, designed to support data-sensitive industries such as Automation & Logistics, DR & Data Warehousing, Streaming, eSports and telecom.
Planck’s Make-in-India modular data centre range ‘Quanta’ is crafted to meet global standards and engineered with an emphasis on sustainability, making it a game changer for businesses focused on scalability and eco-friendly practices.
“We truly believe Quanta will be able to help corporations reach their Net-Zero goals faster, despite our being in the energy-guzzling industry. We are thrilled to have Saarthee on board in this journey,” says Shishir Miglani, Co-Founder and CEO of Planck. “This investment is not only a major vote of confidence in our vision but also a step toward transforming the analytics space. With Saarthee’s expertise and our innovative products, we are positioned to lead the next wave of data-driven decision-making.”
Saarthee Actionable Insights, one of the fastest-growing data science firms in the US, sees Planck’s unique approach to intelligent analytics as both timely and impactful. A representative from Saarthee commented, “We are excited to back Planck at this early stage. Their technology has the potential to redefine how industries handle data, and we look forward to supporting their growth journey. Now your data is as safe and fully under your control in a tier 3 compliant EDC.”
Planck is on track to disrupt the data centre ecosystem by delivering scalable, modular solutions that cater to the needs of industries requiring high-performance, secure, and eco-conscious infrastructure. Their flagship product, Quanta, will bring an army-grade standard of reliability to edge networks, setting a new benchmark for data storage, disaster recovery and live streaming solutions.
About Planck
Planck is a digital infrastructure startup building fully sustainable, scalable edge data centres designed to meet the growing needs of modern businesses. With a net-zero focus that aligns with the UN’s Sustainable Development Goals (SDGs), Planck offers innovative solutions in data storage, disaster recovery, OTT streaming, and private cloud setups. The company is rapidly establishing itself as a leader in the enterprise data centre space, catering to a wide range of industries, from telecom and media to healthcare and financial institutions.
With a team of seasoned industry leaders, including Global Advisors Nasser Bostan (Ex-Neom), Imran Hussain (Ex-BT, Deloitte), Bharat Gupta (Telecom Policies) and Rakesh Pujari, Planck is uniquely positioned to lead the charge in enterprise analytics and digital infrastructure innovation.
