Paytm Appoints Bhavesh Gupta As CEO Of Its Lending Business

CIOReviewIndia Team | Thursday, 06 August 2020, 09:46 IST

Paytm Appoints Bhavesh Gupta As CEO Of Its Lending BusinessPaytm has appointed Bhavesh Gupta as CEO for lending business. Bhavesh Gupta previously worked with ICICI Bank and IDFC First Bank, now he is allotted the task of scaling several of Paytm’s ongoing lending projects – Paytm First Credit Card, Paytm Postpaid and similar projects that involve disbursement of small-ticket loans for customers in collaboration with licensed lenders.

Paytm has appointed Bhavesh Gupta as CEO for lending business. Bhavesh Gupta previously worked with ICICI Bank and IDFC First Bank, now he is allotted the task of scaling several of Paytm’s ongoing lending projects – Paytm First Credit Card, Paytm Postpaid and similar projects that involve the disbursement of small-ticket loans for customers in collaboration with licensed lenders.

Gupta has served as the co-founder of the non-bank lender, is now bestowed for getting new partnerships on-board in addition.

Encircling his appointment, it is the time when the Noida-based fintech company made reportable figures in hiring due to the sway leadership team exits.

The company released a statement saying Bhavesh will developing and expanding Paytm’s lending services to cement the company’s vision of financial integration of 500 million Indians. “Following his leadership Paytm will endure for simplifying, innovating, and introducing latest credit products for millions of Indians and SMEs in collaboration with banks and NBFCs,” it elucidated.

Walking the paths of his new colleague Varun Sridhar, the newly hired chief executive of Paytm Money, Gupta will be reporting to Paytm president Amit Nayyar.

Vijay Shekhar Sharma, CEO & Founder, Paytm, voices his ambitions for making the company a major player in India’s lending bazar.

Though it’s likely that Paytm might need to wait till 2022 for getting a small finance bank license from the Reserve Bank of India.

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