Bhavesh Gupta to succeed Renu Satti as Paytm’s offline payment vertical

Biznextindia : One97 Communications Limited that owns the brand Paytm has elevated Bhavesh Gupta, CEO, Paytm Lending to head the company’s offline payment vertical. The top position in the offline payment vertical was vacant after resignation of the company’s old timer Renu Satti.

“The company has elevated Bhavesh Gupta, CEO, Paytm Lending to take on leadership for the offline payments vertical in addition to his existing responsibilities. Bhavesh has led the company’s lending vertical, which has reached over $1 billion of annualised runrate of disbursals through the company’s platform. Before joining Paytm, Bhavesh had over 22 years of experience in the financial sector with major banks like IDFC Bank, ICICI Bank. Paytm’s phenomenal growth over the years is due to the strong contribution and hard work of its employees. After over a decade of association with Paytm, Renu Satti has expressed her desire to take a career break. Paytm is thankful for her years of expertise, dedication and contribution in the growth of Paytm and wishes her the best for her future endeavor” One97 said in a press statement.

Renu was with Paytm since 2006 when she joined the company to head its human resource department, which had 70 employees at that time. She was given multiple roles during her stint at the company including that of the chief executive officer of the then newly launched Paytm Payments Bank.

This is the only voluntary senior exit in the company in recent times, and the management team is greatly augmented by several recent additions in offline payments and financial services. As a measure of reward for their performance, Paytm has recently promoted 25 colleagues to Senior Vice President and Vice President positions, taking the senior management team count to over 150. The company is further planning to hire over 30 senior leaders for product, technology and business roles.

“We are excited about the accelerated growth of credit access to merchants, which has led to the consolidation of our offline payments and credit businesses under Bhavesh’s leadership. We congratulate our colleagues on their promotions as a recognition of their contribution to Paytm’s growth. We also wish Renu all the best as she moves to the next phase of her journey” A Paytm spokesperson said.