In A Big Boost To Informal Economy, PhonePe Acquires Blue-Collar Workers' Marketplace GigIndia

PhonePe has acquired GigIndia, which is a marketplace for gig workers.

The Walmart-owned company is looking to bolster its offerings to both corporate and enterprise partners.

This investment will allow PhonePe to leverage the freelancers on GigIndia's platform.

It will hence give corporates and enterprises with their blue-collar workforce for sales, customers and on-ground customer acquisition.

This will now be integrated with PhonePe according to the procurement. GigIndia will perhaps be rebranded too later on this year.

“We are excited to welcome GigIndia’s team to PhonePe and leverage their domain expertise to offer value added services to our enterprise partners, helping them scale, expand and grow their businesses,” PhonePe's senior executive Vivek Lohcheb was quoted in a report by the Economic Times (ET).

He added, “GigIndia has already served many businesses, with its pool of high-quality, skilled freelance micro-entrepreneurs.”

PhonePe announced in January that it has 350 million overall users and 150 million of them are monthly active users.