One97 Communications Limited (OCL), which owns Paytm, has elevated Bhavesh Gupta as the company’s Chief Operating Officer and President.

* In his role as President and Chief Operating Officer, 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, Paytm said in an exchange filing.

* Prior to this elevation, Gupta was a senior Vice President of the company. Gupta is a financial service professional with over 25 years of experience building businesses from the ground 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.

* In FY23, Paytm’s revenues grew by 61% YoY to ₹7,990 crore, becoming India’s highest-earning new-age company. In Q4 FY23, Paytm reported a 51% jump in revenue from operations at ₹2,334 crore, while its operating profit was ₹234 crore, including the full-year UPI incentive recorded during the quarter. ..

Source : The Hindu Businessline