Paytm named CFO, Madhur Deora as President

Paytm has promoted its CFO and senior vice-president Madhur Deora as president, who joined the digital payments company in 2016. Prior to Paytm, Madhur served as Managing Director in Citigroup's investment banking business. Now with the new role, he will be responsible for all of Paytm’s consumer services business.

“We have grown over 20 times in the past three years by creating a payments-led lifestyle and financial services app in our country,” said Vijay Shekhar Sharma, founder and chief executive officer at Paytm.

“The next phase of our journey is to expand our offerings in consumer internet and financial services. As we expand our business, we are promoting Madhur to the role of president. He has been a key partner in this success.”

Recently, the company made an announcement of one year progress, where paytm launched "Loan EMI, Credit Card Bill, and Insurance premium" payment use-case. With this, the company has captured 70 per cent market share among all mobile payment apps for BFSI payments.

To grow its market share paytm is rapidly onboarding partners, and till the time it has tied-up with over 30 major insurance companies and more than 45 finance companies.