Paytm appoints Bhavesh Gupta as SVP and CEO of its lending business

FinTech unicorn Paytm has announced the appointment of Bhavesh Gupta as Chief Executive Officer (CEO) of the company's lending business. Bhavesh will be reporting to Amit Nayyar, President, Paytm. The company said in a release that Bhavesh will develop and expand its lending services. This will strengthen the company’s vision of financial inclusion for 500 million Indians. Under his leadership, the company will continue to simplify, innovate, and bring new credit products to millions of Indians and SMEs by partnering with other banks and NBFCs, the release added.

Commenting on the appointment, Amit Nayyar 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 will 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."

About Bhavesh Gupta

Bhavesh Gupta, CEO Paytm Lending Business

Gupta is a banker with over two decades of experience. He has led the digital transformation journey at some of the top retail banks and NBFCs in the country. Most recently, he served as the Founding Member and CEO of Clix Capital, earlier known as GE Capital India. Before this, he was the founding member and Head of SME and  Business Banking at IDFC First Bank for two years.

Bhavesh also spent more than a decade at ICICI Bank, where he played a senior role across retail banking. He worked on both, liabilities and the lending side of the business.

Speaking on the appointment, 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 and 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 continues to build its presence in financial services through multiple senior hires in the last 12 months. It has hired people across insurance, PaytmMoney, and now lending business vertical. In March, Paytm acquired former CEO of insurtech Coverfox, Premanshu Singh as Senior VP and the head of its insurance business. Then in June, it also appointed Abhishek Rajan as COO of Paytm Mall. Later that same month, Paytm appointed Varun Sridhar as CEO of Paytm Money.

In the lending business, the FinTech, in partnership with banks and NBFCs. It has launched First Credit Card, Postpaid, Personal Loans, and Merchant Cash Loans.