Carta vs PhonePe: Founders, CEOs and History
Carta was founded in 2012 by Henry Ward, Manu Kumar and is led by Henry Ward. PhonePe was founded in 2015 by Sameer Nigam, Rahul Chari, Burzin Engineer and is led by Sameer Nigam.
Company facts
Founders
Carta
Henry Ward
Henry Ward is the co-founder and CEO of Carta. He has led the company since founding it as eShares in 2012, through its 2017 rebrand, a $7.4 billion Series G in 2021, and expansion into fund administration, private equity, private credit, and legal services.
Manu Kumar
Manu Kumar co-founded eShares (now Carta) with Henry Ward in 2012 after suggesting Ward build software to replace the paper stock certificates Kumar received as an angel investor.
PhonePe
Sameer Nigam
Sameer Nigam co-founded PhonePe in 2015. While serving as the Senior Vice President of Engineering at Flipkart, he witnessed the absolute nightmare of processing massive cash-on-delivery payments in India.
Rahul Chari
Rahul Chari co-founded PhonePe in 2015 alongside Sameer Nigam. As a highly experienced technical architect (he previously served as VP of Engineering at Flipkart), he built PhonePe's incredibly robust backend infrastructure, ensuring the app could smoothly pro…
Burzin Engineer
Burzin Engineer co-founded PhonePe in 2015. He played an absolutely critical role in building the core architecture and maintaining the intense reliability of the platform's early UPI integration, acting as the Chief Reliability Officer to ensure seamless bank…
CEOs and their tenures
Carta
- Henry Ward2012–present
Chief Executive Officer & Co-Founder
Co-founded eShares in 2012 and has served as CEO since; led the 2017 rebrand, the 2021 Series G at $7.4B, the 2024 exit from secondary trading, and the 2025-2026 expansion into private credit and legal services.
Source - Manu Kumar2012–present
Co-Founder
As Co-Founder, he recognized that the entire Silicon Valley ecosystem was running on broken, manual Excel spreadsheets, heavily guiding Henry Ward's early product strategy before stepping back.
Source
PhonePe
- Sameer Nigam2015–present
Founder & CEO
Nigam holds a computer engineering degree from the University of Mumbai and an MBA from The Wharton School. His technological foresight built the largest digital payments pipeline in India.
Source - Burzin Engineer2015–2024
Co-Founder
Burzin Engineer co-founded PhonePe in 2015 alongside Sameer Nigam and Rahul Chari.
Source
Timeline: Carta and PhonePe side by side
2012Carta
eShares founded by Henry Ward and Manu Kumar
Started to replace paper stock certificates with electronic shares.
2013Carta
$1.8M seed round
K9 Ventures, Draper, and Scott Banister backed the company.
2015PhonePe
PhonePe incorporated in Bengaluru by Sameer Nigam, Rahul Chari, and Burzin Engineer.
2016PhonePe
Acquired by Flipkart in April; launches India's first UPI consumer app in August ahead of demonetization.
2017Carta
Renamed Carta
eShares rebranded as Carta in November 2017.
2018PhonePe
Walmart acquires 77% of Flipkart Group, becoming the ultimate majority owner of PhonePe.
2019Carta
$300M Series E at $1.7B valuation
Led by Andreessen Horowitz.
2020PhonePe
Successfully migrates millions of users to multi-bank architecture in 24 hours during Yes Bank crisis; launches insurance.
2021Carta
$500M Series G at $7.4B valuation
Led by Silver Lake and Lightspeed in August 2021.
2021PhonePe
Crosses 1 billion monthly UPI transactions, cementing #1 market share in Indian digital payments.
2022Carta
Acquires Vauban and Capdesk
Two London-based platforms expanded Carta in Europe.
2022PhonePe
Completes corporate separation from Flipkart; reverse-flips domicile to India; acquires Indus OS.
2023PhonePe
Raises $850 million at a $12 billion valuation from General Atlantic, Tiger Global, and Walmart; launches Share.Market.
2024Carta
Exits secondary trading
Shut down its secondary trading business after a January 2024 customer controversy.
2024PhonePe
Launches Indus Appstore nationwide; surpasses 550 million registered users and 40 million merchants.
2025Carta
Acquires Sirvatus and Accelex
Added private credit loan operations and AI document extraction in October 2025.
2025PhonePe
Files a confidential DRHP for an Indian IPO; FY25 revenue rises 40% to ~$825 million (₹7,115 crore) and net loss narrows to ~$200 million (₹1,727 crore).
2026Carta
Launches Carta Law; Pulley winds down
Acquired Avantia in May; rival Pulley announced in September it will close on December 8 and migrate customers to Carta.
2026PhonePe
Pauses its IPO in March, citing market volatility. Crosses 700 million registered users in April.
Acquisitions
Carta
- Avantia2026Undisclosed
- Sirvatus2025Undisclosed
- Accelex2025Undisclosed
- Vauban2022Undisclosed
- Capdesk2022Undisclosed
PhonePe
- Indus OS (Indus App Bazaar)2022$60M
- WealthDesk & OpenQ2022$75M
- GigIndia2022$12M
Questions about Carta vs PhonePe
Who is the CEO of Carta, Inc. and PhonePe?
Carta, Inc. is led by Henry Ward and PhonePe is led by Sameer Nigam. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was Carta, Inc. founded vs PhonePe?
Carta, Inc. was founded in 2012 — 3 years before PhonePe, which was founded in 2015. Carta, Inc.'s longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger PhonePe.
How many employees does Carta, Inc. have compared to PhonePe?
Carta, Inc. employs approximately 1,900 people, while PhonePe employs approximately 20,000. PhonePe has the larger workforce at 20,000 employees, compared to Carta, Inc.'s 1,900. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are Carta, Inc. and PhonePe headquartered?
Carta, Inc. is headquartered in United States and PhonePe is headquartered in India. Their different home markets mean they may face different regulatory frameworks, tax regimes, and currency exposure.
Who founded Carta, Inc. and PhonePe?
Carta, Inc. was founded by Henry Ward, Manu Kumar. PhonePe was founded by Sameer Nigam, Rahul Chari, Burzin Engineer.
Which company has a longer operating history — Carta, Inc. or PhonePe?
Carta, Inc. has been operating for approximately 14 years, making it the more established of the two companies. PhonePe has been in operation for around 11 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Carta vs PhonePe overview