In a move that underscores its growing influence and ambitious roadmap, fintech giant PhonePe has brought seasoned policy expert Shivnath Thukral on board as its new Vice President for Public Policy and Government Affairs.
The appointment comes at a pivotal moment for the Bengaluru-based unicorn, which is reportedly preparing to file for a $1.5 billion IPO — a landmark public listing that could value the company at $15 billion.
Thukral, a respected name in India’s public policy circles, will now steer PhonePe’s engagement with policymakers and regulators. He joins the leadership team and will work closely with co-founders Sameer Nigam and Rahul Chari to shape the company’s external policy narrative.
“We are delighted to have Shivnath join the PhonePe team,” said Sameer Nigam, co-founder and CEO. “He brings rich experience and deep insights into regulatory frameworks and public policy that will be invaluable as we scale further.”
Prior to this, Thukral served as VP of Public Policy at Meta, where he led advocacy on critical issues at the intersection of technology, innovation, and financial inclusion. His career spans senior roles at policy think tanks and industry bodies such as BIF (Broadband India Forum), USISPF (U.S.-India Strategic Partnership Forum), and PAFI (Public Affairs Forum of India) — making him a powerful bridge between India’s fast-evolving tech landscape and the policy corridors of Delhi.
His arrival signals PhonePe’s intent to not just grow but grow with influence — especially as the fintech ecosystem faces heightened regulatory scrutiny and evolving compliance norms.
From its early days as a payments app to now being a digital ecosystem spanning insurance, lending, wealth management, and even app distribution (via Pincode and the Indus Appstore), PhonePe has emerged as a force to reckon with — boasting over 600 million users, more than 330 million daily transactions, and an annual TPV of ₹150 lakh crore+.
As the company gears up for its next big chapter on the public markets, Shivnath Thukral’s appointment is not just timely — it’s strategic. In the high-stakes world of fintech, navigating policy is no longer optional. It’s essential.
By: Priyanka Chatterjee
