Back to back exits at PayU: After Jitendra Gupta, founder and MD Shailaz Nag resigns

Top level exits have continued at Naspers-owned PayU. After Jitendra Gupta, Shailaz Nag, PayU India founder & MD has put in his papers. With Nag movement from the company, PayU is slated to go have altogether new management.

It’s not clear at the moment who will take over his role. It looks like Anirban Mukherjee, who recently appointed as CEO would fill in Nag’s shoes in the near future.

Nag collectively had a stint over 12 years at Naspers. Before serving 8 years in PayU, he was also a founding member of ibibo. Ibibo was a subsidiary of Naspers.

Gupta’s stint ay PayU came to an end after about three years. He was the co-founder and CEO of digital payment startup Citrus Pay along with Kothari and Amrish Rau that was later acquired by South African internet and media group Naspers in September 2016. Post acquisition, Gupta has been leading the combined entity, PayU India

Taking up a larger role at Naspers in January this year, Amrish Rau moved to look after global Financial Technology Partnerships and Investments. He is now based out of the Netherlands.

PayU provides a payment gateway to over 3,00,000 merchants in India. Airlines and e-commerce are the largest volume processor segments for the firm. It recorded a rise of 92% to Rs 588 crore in FY18.

Filling up leadership roles at PayU is a top priority for the South African conglomerate as the Indian unit contributes over 50% of the total revenue of the company. Besides Billdesk, the company competes with a slew of companies including CCAvenue, Paytm and RazorPay.