Varun Sridhar joins Paytm Money as CEO; company elevates Amit Kapoor as VP and CFO

Paytm Money is a subsidiary of One97 Communications, that also owns Paytm. The online investment and wealth management on Wednesday announced the appointment of Varun Sridhar as its new Chief Executive Officer. He will be leading the launch and development of the equity brokerage apart from growing its existing services.

Personal UPDATE: We are excited to announce that Mr. Varun Sridhar has joined Paytm Money as our New CEO.

Welcome onboard!

Onwards and Upwards 🚀@Paytm@vijayshekhar

— Paytm Money (@PaytmMoney) July 29, 2020

About Varun Sridhar

Sridhar has led the digital transformation journey of some of the top retail banks in India and abroad. Most recently he served as CEO of FinShell India where he launched RealMe PaySa, a fintech platform on mobile. Before this role, he was with BNP Paribas for close to eight years where amongst other assignments he supported the acquisition of Sharekhan. As a board member and member of the executive committee, he supported the scale-up of the digital equity brokerage & mutual fund business.

Speaking on his appointment, Varun said, "I am thrilled to be part of the team that is responsible for introducing wealth management services to consumers in both India. It is making meaningful financial inclusion simple & easy. At Paytm Money, I hope to build along with a fantastic team the most cost-effective & consumer-friendly products & experience for investors & traders. The wealth management and financial service solutions that Paytm Money builds are also transforming the lives of millions of Indians. They are relevant globally as well."

Varun will be reporting to Amit Nayyar, President at Paytm.

Former CFO of Paytm general insurance, now VP of Paytm Money- Amit Kapoor

The company also elevated Amit Kapoor, former, CFO of Paytm General Insurance, as CFO and Vice President of Paytm Money. Before this role, Amit was working the CFO at life insurance company Aviva India.

Last week, Paytm founder Vijay Shekhar Sharma said that the company was gearing up to launch stockbroking services in the coming weeks. Paytm Money procured approval from capital market regulator Securities and Exchange Board of India (SEBI) to begin stockbroking services on its platform, last year in April.