India's financial services platform Paytm has announced the appointment of Bhavesh Gupta, as Chief Executive Officer of the company's lending business. Bhavesh will develop and expand Paytm's lending services to strengthen the company’s vision of financial inclusion for 500 Milion Indians. Under his leadership, the company will continue to simplify, innovate, and bring new credit products to millions of Indians & SMEs in partnerships with other banks and NBFCs. Bhavesh will be reporting to Amit Nayyar, President at Paytm.
Bhavesh, a banker with over two decades of experience, has led the digital transformation journey of some of the top retail banks and NBFCs in the country. Most recently he served as the Founding Member & CEO of Clix Capital, earlier known as GE Capital India. There he focused on building a well-diversified NBFC in digital consumer and MSME lending along with urban affordable housing segment driven by cutting edge technology and analytics to deliver simple, fast, innovative, and customised solutions to customers. Prior to this role, he was Founding Member and Head – SME & Business Banking at IDFC First Bank for two years. Bhavesh spent more than a decade at ICICI Bank where he played a senior role across retail banking, both on liabilities and lending side of the business.
Amit Nayyar - President at Paytm said, “Paytm is on a mission to democratise diversified financial services in the country and access to credit for consumers and small businesses is a critical enabler to fulfil their ambitions and wishes. We are very excited to welcome Bhavesh, whose experience would help us accelerate our goals. I look forward to working closely with him to expand our lending business further along with our esteemed banks and NBFC partners."
Bhavesh Gupta said, "I am thrilled to be part of the team that is responsible for introducing innovative products like Paytm Postpaid making a meaningful effort to promote financial inclusion in the country. I plan to build along with a fantastic team the most cost-effective & consumer-friendly lending products for all citizens. The wealth management and financial service solutions that Paytm is building are transforming the lives of millions of Indians and are relevant globally as well."
Paytm is looking to expand its presence in the financial services space and has been aggressively hiring top brass across its insurance, wealth management (Paytm Money), and lending business verticals. In March, Paytm roped in former CEO of insurtech startup Coverfox, Premanshu Singh as senior vice president and the head of its insurance business.
Paytm continues to build its presence in Financial Services through multiple senior hires in the last 12 months across insurance, Paytm Money, and now lending business vertical. In the lending business, Paytm, in partnership with Bank and NBFCs has launched Paytm First Credit Card, Paytm Postpaid, Personal Loans, and Merchant Cash Loans.