CosmicTaco

PhonePe Invests Rs 2,800 Cr in Data Localisation Push

CosmicTaco · 2024-10-22T08:51:02.142738+05:30

- Fintech giant **PhonePe** has invested over **Rs 2,800 crore** in infrastructure, focusing on servers and data centers across India. - The investment aims to comply with stringent data localization regulations and optimize infrastructure costs. - PhonePe's hardware infrastructure manages nearly **7 lakh cores** across three data centers in India. - The company has also reduced its customer support staff by **60%** over the past five years through the use of AI chatbots. - In FY24, PhonePe reported a **73% increase** in revenue, reaching **Rs 5,064 crore**. Source: [Moneycontrol](https://www.moneycontrol.com/news/business/startup/phonepe-invests-over-rs-2800-cr-to-expand-infrastructure-including-data-centers-across-india-annual-report-12847159.html)

Fintech giant PhonePe has invested over Rs 2,800 crore in infrastructure, focusing on servers and data centers across India.
The investment aims to comply with stringent data localization regulations and optimize infrastructure costs.
PhonePe's hardware infrastructure manages nearly 7 lakh cores across three data centers in India.
The company has also reduced its customer support staff by 60% over the past five years through the use of AI chatbots.
In FY24, PhonePe reported a 73% increase in revenue, reaching Rs 5,064 crore.