PhonePe to acquire India-based app store Indus OS

Monday 24 May 2021 12:36 CET | News

PhonePe has initiated talks to acquire Samsung-backed Indus OS, a startup that operates an eponymous third-party Android app store.

According to TechCrunch, the deal values Indus OS at USD 60 million. However, the deal has yet to close, and PhonePe and Indus OS didn’t immediately respond to a request for comment.

Moreover, Indus OS powers several popular third-party Android stores including Samsung’s Galaxy Store and provides partners with localised content and apps. Besides, in late 2020, Indus OS said it offered its partners 400,000 apps in English and 12 Indian languages. 

The startup, which has raised about USD 21 million to date and monetizes through ads, has amassed over 100 million users. Furthermore, the company plans to launch an app store for individual users once Google begins accepting third-party app stores, a source familiar with the matter stated.

Overall, it remains unclear why PhonePe is interested in Indus OS’ offering. The Bangalore-based startup has long offered its own mini app store on its app, while a handful of companies – including PhonePe rival Paytm – have either launched or explored launching their own mini app stores in recent months.

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Keywords: PhonePe, acquisition, e-wallet, mobile payments
Categories: Payments & Commerce
Countries: India
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