Akash Dongre exits PhonePe owned Indus Appstore after 2022 acquisition

Business Jun 03, 2026

Akash Dongre, co-founder and chief product officer at PhonePe-owned Indus Appstore, has stepped down.
His exit comes almost four years after PhonePe acquired the company in 2022, and follows the departures of fellow co-founders Rakesh Deshmukh and Sudhir Bangarambandi.

Dongre pauses, Indus surpasses 150 million users

Dongre described his time at Indus as "rewarding," saying he was grateful to help build something that reached millions.
He's taking time to "pause, recharge, and reflect" before deciding on his next move.
Meanwhile, Indus Appstore, an Indian alternative to Google Play with over 150 million users, continues growing despite PhonePe delaying its IPO due to market challenges.