India, July 6 -- In another leadership exit at IPO-bound fintech major PhonePe, PhonePe Insurance Broking Services' CEO Vishal Gupta has quit and founded a new stealth startup.

Taking to LinkedIn, Gupta said that he is moving on from PhonePe to "build from scratch, solve hard problems, find PMF, and earn the right to scale."

The IIM-B alum joined PhonePe as VP for product, UX/UI, risk and CX in 2016. He was elevated to helm the insurance vertical of the Walmart-owned fintech company in November 2023. Prior to his near decade long stint at PhonePe, Gupta has worked with companies like Flipkart, AOL and Pine Labs over a career spanning two and a half decades.

This marks the third such resignation at PhonePe's subsidiaries in the last two...