Paytm partners with Bhavesh Gupta as CEO to lead its lending business

Paytm has appointed Bhavesh Gupta as Managing Director 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 as well as new innovative credit products in partnership with other banks and NBFC.

Prior to joining Paytm, Gupta was a founding member and CEO of Clix Capital, formerly GE Capital India, for the past three 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 over 10 years.

Announcing the appointment, Amit Nayyar, Chairman of Paytm, said, “We are very pleased 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.

The One97 Communications group marked its third most hiring at the highest level over the past two weeks. While the company had recently hired Varun Sridhar as the CEO of Paytm Money, he elevated Amit Kapoor to the position of VP and CFO of its wealth management unit.

Last month, Paytm hired Harsh Gupta to lead its merchant payments and appointed Anubhav Sharma as Vice President of Paytm Payments Bank.

Coach had exclusively reported these meetings.

In lending, Paytm, in partnership with the bank and NBFCs, 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 to consumers and merchants as lines of credit.

Paytm has also extended its consumer loan product Paytm Postpaid to offline retail stores and kirana stores and increased the credit limit for “PostPaid” products up to Rs 1,00,000 per month from Rs 60,000 plus early to allow payment for large items such as furniture and consumer electronics.

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