Noida-based digital payment major Paytm has appointed Bhavesh Gupta as the CEO of its lending business.

“With over two decades of experience in banking, he will develop and expand our lending services to strengthen our vision of financial inclusion for 500 Milion Indians,” according to a statement by Paytm.

Under his leadership, Paytm aims to simplify, innovate, and bring new credit products to millions of Indians & SMEs in partnerships with other banks and NBFCs. He will be reporting to Paytm president Amit Nayyar.

“Paytm is on a mission to democratise diversified financial services in the country and access to credit for consumers and small businesses is a critical enabler to fulfill their ambitions and wishes. 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.”

Amit Nayyar, Paytm President

Bhavesh has led the digital transformation journey of some of the top retail banks and NBFCs in the country. He was Founding Member and Head — SME & Business Banking at IDFC First Bank for two years. Also, he has spent more than a decade at ICICI Bank where he played a senior role across retail banking.

“I am thrilled to be part of the team that is responsible for introducing innovative products like Paytm Postpaid making a meaningful effort to promote financial inclusion in the country. I plan to build along with a fantastic team the most cost-effective & consumer-friendly lending products for all citizens. 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,” said Bhavesh Gupta on his appointment.

Most recently, he served as the Founding Member & CEO of Clix Capital. He was responsible for using cutting edge technology and analytics to deliver simple, fast, innovative, and customised solutions to customers. Additionally, his main focus was on building a well-diversified NBFC in digital consumer and MSME lending along with urban affordable housing segment.

Paytm continues to build their presence in financial services through multiple senior hires in the last 12 months. The hiring has been across insurance, Paytm Money, and now lending business vertical. In lending business, they have launched Paytm First Credit Card, Paytm Postpaid, Personal Loans and Merchant Cash Loans in partnership with bank and NBFCs.

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