Paytm announces Abhishek Rajan as COO; Srinivas Mothey elevated to VP level

Paytm has appointed Abhishek Rajan as its new Chief Operating Officer. Former COO Srinivas Mothey has been elevated to Senior Vice President Merchants Solutions, where he would be working on innovative retail solutions for merchants.

Paytm Mall appoints Abhishek Rajan as COO. Rajan is an IIM-Ahmedabad alumnus. He has built and scaled up Paytm's travel business over the last four years. Also, he has driven large revenues for the company. In his new role, Rajan will oversee Paytm Mall’s operations across product, technology, supply chain, marketing and finance.

He will specifically focus on strengthening the commerce customer experience and expanding the hyperlocal merchant base. Further, he will help to enable more kirana stores to be part of the digital commerce journey. Rajan will continue to lead the travel vertical till the time Paytm appoints a new business head. The team has brought down the quarterly cash burn from $17 million to $2 million during the last financial year, Rajan said.

What did Paytm CEO have to say on this?

Vijay Shekhar, CEO and Founder of the company commented:

We would like to think of Paytm’s e-commerce business as a Series A startup with $200 million cash in the bank, where key technology and operations components required for running a commerce business. I am very happy to see the way Abhishek has built and led the travel business for us. In the post-Covid world, we want to bring commerce to even more customers and serve the SMEs across the country. We have good capital and a great team. Also, we have a massive network of customers to make our O2O model penetrate further in India.

Further, as per the official communication, the company has given the existing workforce the flexibility to either shift to Bengaluru or continue working from their current location across various roles.

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