Paytm Elevates Bhavesh Gupta To President & COO

Paytm on Tuesday said it has elevated Bhavesh Gupta as the company’s Chief Operating Officer and President.

In an exchange filing the company said that in his role as President and Chief Operating Officer of the Company, Gupta will be responsible to lead verticals of Lending, Insurance, Payments – online and offline, Consumer payments and drive key initiatives including User Growth, Operations Risk, Fraud Risk and Compliance.

Bhavesh Gupta is a financial services professional with over 25 years professional experience building businesses grounds up in payments, technology and analytics platforms, retail loans, digital lending, SME banking, retail banking etc. Prior to joining Paytm in 2020, Gupta held multiple leadership roles including CEO of Clix Capital (formerly known as GE Capital), Head of SME & Business Banking at IDFC Bank and was also associated with ICICI bank in various roles. He is a graduate from Delhi University and completed his MBA from Institute of Management Studies, Indore.

This is a key leadership rejig as Paytm looks to strengthen payments and loan distribution to drive its next phase of growth.

In FY23, Paytm’s revenues grew by 61 per cent year-on-year (YoY) to Rs 7,990 crore. In the quarter ended 31 March 2023, the company reported a 51 per cent jump in revenue from operations at Rs 2,334 crore while its operating profit was Rs 234 crore, including the full-year UPI incentive recorded during the quarter.