Financial services platform Paytm has announced the appointment of Bhavesh Gupta as managing director of the company’s lending activities.
Gupta will develop and expand Paytm’s lending services to strengthen the company’s vision for financial inclusion for 500 million Indians. Under his leadership, the company will continue to simplify, innovate and bring new lending products to millions of Indians and SMEs in partnership with other banks and NBFC. Gupta will report to Amit Nayyar, President of Paytm.
Gupta, a banker with more than two decades of experience, has led the digital transformation journey of some of the country’s leading retail and NBFC banks. Most recently, he was a founding member and CEO of Clix Capital, formerly known as GE Capital India. There he focused on building a well-diversified NBFC in digital consumer and MSME lending as well as affordable urban housing segment based on cutting-edge technology and analytics to deliver simple solutions. , fast, innovative and personalized to customers. Prior to this role, he was a founding member and Head of SME and Business Banking Services at IDFC First Bank for two years. Gupta spent over a decade at ICICI Bank, where he played a leading role in retail banking, both on the liability and lending side of the business.
Nayyar said, “Paytm’s mission is to democratize diversified financial services in the country and access to credit for consumers and small businesses is a critical catalyst in achieving their ambitions and wishes. We are very happy to welcome Bhavesh, whose experience would help us accelerate our goals. I look forward to working closely with him to further develop our lending business with our esteemed banks and NBFC partners. “
Gupta said: “I am delighted to be part of the team responsible for launching innovative products such as Paytm Postpaid and making a significant effort to promote financial inclusion in the country. user-friendly loan products for all citizens. The wealth management and financial services solutions that Paytm develops transform the lives of millions of Indians and are relevant globally as well. “
Paytm continues to strengthen its presence in financial services through several senior hires over the past 12 months in the areas of insurance, Paytm Money and now lending business. In the area of loans, Paytm, in partnership with Bank and NBFC, launched Paytm First Credit Card, Paytm Postpaid, Personal Loans and Merchant Cash Loans.