Indian fintech giant PhonePe has appointed Srijon Biswas as its new chief technology officer, while cofounder Rahul Chari transitions to the role of chief product and technology officer, steering key functions beyond engineering as the company adapts to evolving growth strategies.
- Srijon Biswas promoted to CTO after nearly a decade at PhonePe
- Rahul Chari assumes new CPTO role overseeing product and tech functions
- Leadership changes follow IPO delay and several executive departures
What happened
PhonePe has promoted Srijon Biswas, who has been leading the company's financial services engineering since 2016, to chief technology officer. In his new position, Biswas will be responsible for overseeing the entire engineering organization. Despite the promotion, he will continue to report to PhonePe cofounder Rahul Chari, who has stepped away from the CTO role.
Chari has taken on a new position as chief product and technology officer (CPTO), where he will manage PhonePe's product development and technology strategies. His expanded responsibilities also include trust and safety, data sciences and analytics, customer experience, and other strategic initiatives across the company.
Why it matters
This leadership shift reflects PhonePe's focus on deepening its technological foundations while broadening leadership capabilities to support future growth. By splitting the CTO and CPTO roles, PhonePe aims to enhance engineering excellence while driving product innovation and maintaining strong customer trust.
The changes come as PhonePe faces significant industry and internal pressures, including several recent executive exits from critical subsidiaries and an indefinite delay in its planned initial public offering. Strengthening leadership in technology and product is a key step for the company during this phase of uncertainty and market volatility.
What to watch next
Observers will be looking to see how the new leadership structure affects PhonePe’s product development cycles and engineering efficiency amid its planned expansion. The effectiveness of the CPTO role in integrating product innovation with technological infrastructure will be critical to the company’s competitive positioning in India’s rapidly evolving fintech sector.
Additionally, market watchers will closely monitor PhonePe’s IPO plans, which remain on hold due to market conditions despite the company’s strong revenue growth and share sale intentions by major investors Walmart, Tiger Global, and Microsoft. How the leadership team navigates these challenges will shape PhonePe’s trajectory in 2026 and beyond.