Paytm ropes in Bhavesh Gupta as CEO to lead its lending business

Paytm has appointed Bhavesh Gupta as chief executive officer and senior vice president to lead the company’s lending business. Gupta would be responsible for developing and expanding the Noida-based company’s lending services along with innovating new credit products in partnerships with other banks and NBFCs. 

Before joining Paytm, Gupta was the founding member and CEO at Clix Capital, formerly GE Capital India, for the last three years and a half years. He has over 22 years of experience in the financial sector and has also worked with IDFC Bank and ICICI Bank for more than 10 years. 

Announcing the appointment, Amit Nayyar, president of Paytm, said, “We are very excited to welcome Bhavesh, whose experience would 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."

One97 Communications group has marked its third most top-level hiring in the past two weeks. While the company had recently hired Varun Sridhar as CEO of Paytm Money, it elevated Amit Kapoor to vice president and CFO at its wealth management unit. 

Last month, Paytm had hired Harsh Gupta to lead its merchant payments and appointed Anubhav Sharma as the vice president of Paytm Payments Bank. 

Entrackr had exclusively reported these appointments.

In the lending business, Paytm, in partnership with Bank and NBFCs, has launched Paytm First Credit Card, Paytm Postpaid, Personal Loans and Merchant Cash Loans. It has partnered with Clix Capital to offer loans as a deferred payment option for consumers and to merchants as credit lines.

Paytm also extended its consumer lending product Paytm Postpaid to offline retail and kirana stores and increased credit limit for ‘PostPaid’ products up to Rs 1,00,000 monthly from Rs 60,000 earlier to enable payment for large items such as furniture and consumer electronics.