A simple diphenylamine-based hole transporting material V1553 was synthesized and incorporated into a perovskite solar cell, which showed remarkable power conversion efficiency close to 23%. The investigated HTM was synthesized via one-step catalyst-free condensation reaction from commercially available and extremely cheap starting reagents, resulting in a fractional cost of the final product compared to the commercial spiro-OMeTAD. This material promises to be a viable p-type organic semiconductor to be employed in the manufacturing of perovskite solar modules.