- Widens leadership team to work directly with Paytm CEO and senior management for the next phase of growth. Strengthens succession planning by empowering next-generation leaders
- Bhavesh Gupta transitions to an advisory role, offering guidance for Paytm’s growth initiatives
- Varun Sridhar transitions to Chief Executive Officer of Paytm Services Private Limited, focusing on the distribution of mutual funds and wealth management products
- Appoints Rakesh Singh as the new Chief Executive Officer of Paytm Money
One97 Communications Limited (OCL) that owns the brand Paytm is expanding its leadership team to build a large and profitable payment and financial services distribution business. This move is aligned with its ambition to ensure Paytm’s sustained growth across key business verticals, fostering innovation and strengthening its group structure for sustainability and regulatory compliance.
Paytm’s payment and credit businesses are led by Chief Operating Officers and Chief Business Officers, each with over five years of experience at Paytm and 20-26 years of total work experience in relevant industries. This seasoned leadership team will now work directly with Paytm’s CEO and other senior management. The Company has been focusing on strengthening the roles of its next line of leaders and robust succession planning.
Bhavesh Gupta, President and Chief Operating Officer, who was overseeing the payments and lending businesses, has decided to take a career break due to personal reasons. He will be transitioning to an advisory role, offering guidance for Paytm’s growth initiatives until the end of the year. The leadership will focus on profitable business expansion and is committed to regulatory compliance.
Expanding priority to wealth management products
The company has also undertaken leadership transitions within its wealth subsidiary where Rakesh Singh has recently been appointed as the new Chief Executive Officer of Paytm Money Ltd (PML). With over two decades of experience, Rakesh Singh was previously the CEO of the stock broking business at Fisdom, and has held key management positions with ICICI Securities and Standard Chartered Bank.
OCL has expanded its portfolio with Paytm Services Pvt Ltd (PSPL), a subsidiary dedicated to distributing mutual funds, and other wealth management products. Varun Sridhar, former head of Paytm Money Ltd, now leads as CEO at PSPL, marking a transition to new leadership responsibilities.
Vijay Shekhar Sharma, Founder & CEO – Paytm said, “I would like to thank Bhavesh for his contributions and his role in ensuring a smooth transition. Our focus on payments and lending is stronger than ever, and I will work with the seasoned leaders that we have in each of our businesses to execute our plans. I am also excited about the direction that we have taken under the leadership of Varun to expand Paytm’s role in deepening penetration of mutual fund and wealth management products in our country. I welcome Rakesh to Paytm Wealth business where we are committed to build world class technology led wealth offerings to young Indians.”
Bhavesh Gupta said, “I have decided to take a career break due to personal reasons. I look forward to supporting Paytm in an advisory role. I am confident of Paytm reaching new heights given the depth of leadership in payments and financial services that has been built over the past few years”
Rakesh Singh, CEO – Paytm Money said, “Stepping into the role of CEO at Paytm Money Ltd is both an honor and a responsibility. As we aim to scale and position ourselves among the top brokers in India, our focus will be on ramping up acquisition and delivering stable, innovative products at a low cost transparent price. Focusing on growing an already profitable operation with full compliance to SEBI regulations will be a top priority. I am eager to build on the solid foundation laid by the team, and my focus will be on Paytm Money’s growth.”
The Company has reported movement to the TPAP model for UPI Payments and is now working with Yes Bank, Axis Bank, State of India and HDFC Bank. For loan and credit card distribution, the company continues to work with NBFC and bank partners.
As this transition unfolds, Paytm remains committed to fostering growth, profitability, and maintaining robust governance and compliance.
About Paytm: Paytm is India’s leading mobile payments and financial services distribution company. Pioneer of the mobile QR payments revolution in India, Paytm builds technologies that help small businesses with payments and commerce. Paytm’s mission is to serve half a billion Indians and bring them to the mainstream economy with the help of technology.
