Digital credit and mobile wallet player MobiKwik has appointed Mukul Saxena as CEO of its financial services and Zaakpay business units. 

A seasoned banker with over two decades of experience in digital payments and fintech, Saxena has been at the forefront of the “Cash to Digital” growth story of India and the Middle East. 

Most recently, he was executive vice president and head of the payments business at IndusInd Bank. 

Saxena has also worked with world-renowned banks and organisations such as ABN AMRO Bank & SABB (HSBC, Saudi Arabia). He comes with extensive knowledge and expertise in new-age payment methods such as UPI, Wallet, Aadhar Pay and Cards, and has been recognised among the “Top 50 Payments Professionals of India”. 

In his new role at MobiKwik, he will help the company scale its financial services and payment gateway businesses.

“Digital distribution of financial services has been key to our rapid and profitable growth for the last few years. Mukul’s experience in the fintech industry is unparalleled. We are excited to have him on board and see him propel MobiKwik into the next orbit of growth with his excellent leadership skills and in-depth understanding of the business,” said Bipin Preet Singh, co-founder, managing director, and CEO, MobiKwik. 

“Being from the payments industry, I have closely observed MobiKwik’s growth over the past few years, and it has been inspiring to witness how they have braved the odds and created a fintech legacy. As part of team MobiKwik, I will endeavour to further the company’s mission to ensure last-mile delivery of financial services across Bharat to empower millions of Indians,” added Saxena.  

Mobikwik is transforming into a full-service neobank, offering payment, credit and investment products to its 127 million users and 3.7 million merchants. 

Having achieved profitability in the last two quarters, the company is looking to expand its leadership team. The company ended the financial year 2022 with Rs 5.4 bn in revenue, recording 80% YoY growth, setting itself apart from all its peers.

Image source: LinkedIn