India’s PhonePe taps Cloudera to streamline data management
Indian fintech giant PhonePe has partnered up with hybrid data company Cloudera to streamline its data management and boost its operational efficiencies.
PhonePe taps Cloudera for data management
Utilising the Cloudera Data Platform (CDP), PhonePe will migrate a portion of its data workloads to the cloud and transition to a hybrid data platform, with the remainder of its workloads remaining on-premise. For PhonePe, this will enable the firm to better manage the swathes of data it receives as it continues to scale, while also allowing it to access any data “irrespective of its location, without compromise”.
“Our hybrid data platform includes an observability solution that offers maximum workload visibility, enables predictability of the workloads, and further minimises the operational overheads,” comments Mayank Baid, regional vice president, India at Cloudera.
Kisalay Ranjan, head of engineering at PhonePe, adds that the collaboration marks a “significant milestone” in the company’s data journey.
Founded in 2015, PhonePe claims to be India’s largest payments app, catering to both consumers and merchants, serving over 460 million users across the subcontinent. It offers payment services, including bill payments, as well as investments and insurance products.
The company has been on a fundraising push this year, securing around $850 million so far, of which General Atlantic has contributed a total of $550 million.
With the funding, PhonePe plans to launch new businesses such as insurance, wealth management, lending, stockbroking, shopping and account aggregators. It also intends to grow UPI payments in India by introducing new products.
