The appointment follows PhonePe’s decision earlier this year to pause its much-anticipated IPO.
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Walmart-backed fintech company PhonePe has elevated long-time engineering leader Srijon Biswas as its Chief Technology Officer (CTO), in a move that strengthens its technology leadership as the company continues to expand its financial services portfolio.Biswas, who has spent several years leading engineering across multiple teams at PhonePe, will now head the company’s engineering organisation. He will continue to report to co-founder Rahul Chari.The appointment is part of a broader leadership realignment at the fintech major. Chari, who earlier served as CTO, will now take on the role of Chief Product and Technology Officer (CPTO), overseeing technology and product functions alongside Trust & Safety, Data Sciences & Analytics, Customer Experience and strategic initiatives across the PhonePe Group.“As PhonePe continues to expand and grow, strengthening our technology leadership is a natural step. Srijon’s appointment ensures we continue to invest deeply in engineering excellence while building the technology platforms that will power the future of digital India,” Chari said in a statement.Biswas said he looked forward to working with the engineering teams to build products that serve hundreds of millions of Indians.The appointment also follows PhonePe’s decision earlier this year to pause its much-anticipated initial public offering (IPO). The company had filed updated draft papers with markets regulator SEBI and was targeting a listing that could value it at around $15 billion. However, in March, PhonePe deferred the IPO, citing heightened geopolitical tensions in West Asia and volatile equity markets, while maintaining that the delay was unrelated to its business fundamentals and that it remains committed to listing once market conditions stabilise.The fintech major continues to invest aggressively in engineering talent and platform capabilities as it expands beyond UPI payments into insurance, lending, stockbroking, wealth management and the Indus Appstore. With more than 650 million registered users and one of the country’s largest engineering teams, the company is betting on technology leadership to drive its next phase of growth, even as it awaits a more favourable window to tap the public markets.Published on July 8, 2026
