Paytm Services CEO Varun Sridhar steps down

Varun Sridhar, chief executive officer of Paytm Services, a subsidiary of fintech major One 97 Communications, has resigned after a five-year tenure. 

His exit marks the end of an eventful journey where he played a key role in shaping Paytm’s financial services arm and scaling Paytm Money into a profitable business.

Sridhar joined Paytm during its pre-IPO phase, helping build the company’s operating model before its public listing. At Paytm Money, he drove several initiatives, including daily mutual fund SIPs, the expansion of digital gold offerings, and the conceptualization of secured lending products. 

Before Paytm, Sridhar spent close to eight years at BNP Paribas, where he led the acquisition and integration of Sharekhan into the global banking group. His career spans more than two decades across banking, wealth management, and fintech.

Currently based in Goa, Sridhar shared in a LinkedIn post that he plans to take some time to reflect on his next move after working non-stop for more than two decades. He is weighing possibilities such as launching a wealthtech venture, exploring opportunities in AI-driven education, or even taking a sabbatical before returning to the startup ecosystem.

Meanwhile, Paytm Money, now led by Sandiip Bharadwaj, reported Rs 195.7 crore in revenue and Rs 71.6 Cr profit in FY24, though it continues to trail behind competitors like Groww, Zerodha, and Dhan in terms of user growth.