Wednesday, May 22, 2024
Outlook.com
Outlook India
Outlook Business

Paytm Elevates Bhavesh Gupta As Chief Operating Officer And President

In an exchange filing, the company said that Gupta will be responsible for leading the unicorn's verticals of lending, insurance, payments

Paytm Elevates Bhavesh Gupta As Chief Operating Officer And President
Bhavesh Gupta, Chief Operating Officer (COO) and President, Paytm
Bhavesh Gupta, Paytm
POSTED ON May 17, 2023 12:23 PM

One97 Communications Limited (OCL), which owns the Indian fintech firm Paytm, announced its plans to elevate Bhavesh Gupta as the company’s Chief Operating Officer (COO) and President.

In an exchange filing, the company said that Gupta would lead lending, insurance, payments (online and offline) and consumer payments verticals. Additionally, he will drive Paytm's key initiatives, including user growth, operations risk, fraud risk and compliance.

The Vijay Shekhar Sharma-led company has claimed that Gupta, a financial service professional, has over 25 years of professional experience in building businesses grounded in payments, technology and analytics platforms, retail loans, digital lending, SME banking, retail banking,etc. 

A graduate of Delhi University who completed his MBA from Indore's Institute of Management Studies, Indore, Gupta held multiple leadership roles prior to Paytm. This included CEO of Clix Capital (formerly known as GE Capital), Head of SME and Business Banking at IDFC Bank and being associated with ICICI Bank in various capacities. .

Paytm has finally posted profitability in two subsequent quarters; in FY23, its revenues grew by 61 per cent YoY to Rs 7,990 crore. In Q4 FY 2023, it reported a 51 per cent jump in revenue from operations at Rs 2,334 crore while its operating profit was Rs 234 crore, including the full-year UPI incentive recorded during the quarter. 

  • Related Articles

    The company launched the programme at an event conducted by TE and BCIC with the support of TiE Bangalore (Indus Ventures)

    TE Connectivity Launches Its First Start-Up Accelerator Programme In India

    Prior to this, Baron Capital lowered the company’s valuation to $6.7 billion as of June 2022.

    Baron Capital Slashes Swiggy’s Valuation To $7.1 Billion

    Giverly, a social-impact and payments platform, part of IA Impact Labs has recently raised a pre-seed round of funding led by India Accelerator’s iAngels Network.

    Giverly Raises Its Pre-Seed Funding Led By India Accelerator’s iAngels Network