Paytm Money names Varun Sridhar as CEO; elevates Amit Kapoor as VP and CFO
Online investment and wealth management platformofficially announced the appointment of Varun Sridhar as its new Chief Executive Officer. He will be leading the launch and development of the equity brokerage apart from growing its existing services.
Varun Sridhar shared, “ At Paytm Money, I hope to build along with a fantastic team the most cost-effective and consumer-friendly products and experience for investors and traders. The wealth management and financial service solutions that Paytm is building are transforming the lives of millions of Indians and are relevant globally as well."
Varun Sridhar, CEO, Paytm Money
Varun has led the digital transformation journey of some of the top retail banks in India and abroad. Most recently, he served as the CEO of FinShell India, where he launched realme PaySa, a fintech platform on mobile. Prior to this role, he was with BNP Paribas for close to eight years, where amongst other assignments, he supported the acquisition of Sharekhan.
Under his leadership, Paytm Money will continue to simplify, innovate, and bring wealth management products to millions of Indians. Varun will be reporting to Amit Nayyar, President at Paytm.
“Paytm Money is on a mission to empower millions of Indians with wealth management products. We are very excited to welcome Varun, whose experience in retail banking, broking, and wealth segment would help us accelerate our goals. I look forward to working closely with him to expand Paytm Money further," said Amit.
Headquartered in Bengaluru, Paytm Money has over 300 employees. It claims to have more than six million users on its platform, availing direct mutual funds and NPS.
The company also announced that Amit Kapoor has joined as the new CFO and Vice President. Prior to this role, Amit was working the CFO at life insurance company Aviva India.
In the next 12 to 18 months, Paytm Money aims to invest Rs 250 crore as it plans to launch new businesses, including the equity brokerage during the current financial year.