Jose Thattil (Phi Commerce)
Overview
Jose Thattil is the CEO and co-founder of Phi Commerce, a prominent fintech company based in Pune, India. Specializing in omnichannel digital payment solutions, Phi Commerce aims to transform the digital payments landscape in India and expand its footprint internationally. Under Thattil's leadership, the company has developed a suite of products that cater to businesses, banks, and networks, offering seamless transactions across various channels. Notable achievements include strategic partnerships and major funding rounds that have significantly boosted the company's valuation and market presence.
Recent Developments
In recent years, Phi Commerce has made substantial progress under the leadership of Jose Thattil:
-
2025 July: Phi Commerce secured INR 51.34 Cr ($5.9 Mn) as part of its Series B funding round from BEENEXT. This funding follows a previous investment of INR 42.73 Cr from DG Strategic Investment, bringing the total raised in the Series B round to INR 94.07 Cr.
-
2025 May: Phi Commerce announced a strategic partnership with Japan's DG Financial Technology to expand its digital payment solutions in Japan. This collaboration marks a milestone in the company's international expansion strategy.
-
2024 August: A new brand logo was unveiled to encapsulate Phi Commerce's core values and ambitious global vision.
-
2024 July: The company raised approximately $10 million in a funding round led by BEENEXT, aimed at accelerating international market expansion and enhancing its presence in the payments ecosystem.
-
2023 November: They raised $10 million in a Series A1 funding round led by BEENEXT, along with Opus Ventures.
Jose Thattil has focused on innovation and strategic partnerships to drive the company's growth and adapt to the evolving fintech landscape.
Personal Information
| Attribute | Information |
|---|---|
| Full Name | Jose Thattil |
| Nationality | Indian |
| Occupation | CEO and Co-founder of Phi Commerce |
| Known For | Fintech Innovation, Phi Commerce |
| Education | BE Electronics, Mumbai University; MMS, Narsee Monjee Institute of Management Studies |
Early Life and Education
Jose Thattil completed his Bachelor of Engineering in Electronics from Mumbai University, followed by a Master's in Management Studies (MMS) from the Narsee Monjee Institute of Management Studies in 1997. Early in his career, Thattil joined ICICI Bank as the Assistant Vice President for Technology, where he was instrumental in launching India’s first VISA Debit Card. This experience provided him with significant exposure to the digital payments industry, shaping his future career path.
He later moved to ElectraCard Services in Pune, a pioneering software company in digital payments, where he developed extensive expertise in building and deploying payment solutions for major banks and financial institutions globally. His tenure at ElectraCard Services exposed him to diverse markets, including North America, Africa, the Middle East, and Asia. ElectraCard was acquired by Mastercard in 2013, culminating Thattil's successful stint there.
Career and Notable Achievements
In 2015, Jose Thattil co-founded Phi Commerce with Tushar Shankar, Anil Sharma, and Rajesh Londhe. Some of his key professional milestones include:
- Phi Commerce Foundation: Launched with a unified payment platform that addresses digital payment needs across various sectors.
- Product Innovator: Phi Commerce has been at the forefront of developing new payment solutions like CollectiPhi-360, an omnichannel payment platform that caters to the needs of lenders and addresses cash-on-delivery challenges.
- Global Expansion: Initiated strategic partnerships to enhance Phi Commerce's presence in international markets, such as the recent collaboration with Japan's DG Financial Technology.
- Funding Rounds: Successfully raised several rounds of funding, leading to significant growth in company valuation and expansion capabilities.
Current Work and Impact
As of 2025, Jose Thattil remains at the helm of Phi Commerce, driving its mission to innovate and expand in the fintech sector. Under his leadership, the company has increased its valuation to approximately $161 million and broadened its international presence. Phi Commerce's products, renowned for simplifying complex transactions, are deployed across multiple countries, reflecting Thattil's successful execution of a global strategy. His work at Phi Commerce continues to influence fintech trends and shape the digital payments ecosystem worldwide.
Conclusion
Jose Thattil is a significant figure in the fintech industry, known for his leadership at Phi Commerce and his contributions to the digital payments landscape. With a focus on innovation and expansion, he has successfully led the company to achieve a substantial market presence both domestically and internationally. His strategic vision and execution have positioned Phi Commerce as a leader in the fintech space, with a promising future of continued growth and impact in the digital payments arena.