ArptaLAST UPDATED: July 29, 2020, 1:49 p.m.
New Delhi: Online investment and wealth management platform Paytm Money on Wednesday announced the appointment of Varun Sridhar as its new Chief Executive Officer.
Sridhar has led the digital transformation journey of some of the top retail banks in India and abroad.
Most recently, he served as 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.
Sridhar will report 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," Nayyar said in a statement.
A subsidiary of One97 Communications Ltd which operates Paytm, Paytm Money is headquartered in Bengaluru and has a team of over 300 employees.
The company said it has over six million users on its platform.
Paytm Money plans to invest Rs 250 crores over the next 12-18 months as it has planned to launch new businesses including equity brokerage in this financial year.
"At Paytm Money, I hope to build along with a fantastic team the most cost-effective & consumer-friendly products and experience for investors and traders," Sridhar said on his appointment.
"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," he said.