Bhavesh Gupta 2024 update: The new president and COO of Paytm

Paytm, which is the leading fintech company in India, has announced Bhavesh Gupta as the president and COO, or Chief Operating Officer. Earlier, Bhavesh Gupta was serving as a senior vice president at Paytm.

The current role of Bhavesh Gupta as the new president and COO of Paytm 

In his new role, Bhavesh will be responsible for leading the verticals of insurance, payments, as well as lending, which will be both online and offline. Also, it will lead consumer payments and drive essential initiatives like user growth, operations risk, compliance, as well as fraud risk.

Bhavesh Gupta will also be reporting to Vijay Shekhar Sharma, who is the managing director as well as chief executive officer at this fintech company.

About Bhavesh Gupta 

Bhavesh Gupta is a graduate of DU and has completed an MBA from the renowned Institute of Management Studies, Indore.

In 2020, Bhavesh Gupta was appointed as the CEO of this fintech company. When it comes to his professional experience, he has around 25 years of experience in financial services building businesses in payment, analytics platforms, retail loans, SME banking, as well as technology, etc.

Before joining Paytm, Bhavesh had various leadership roles, like CEO of Clix Capital, which was formerly known as GE Capital, head of SME, as well as business banking at IDFC Bank. Gupta was also linked with ICICI Bank and managed various roles.

About Paytm

In 2023, Paytm’s parent company, One 97 Communications Limited, agreed to the appointment of SRB, which is SR Batliboi and Associates LLP. It is also known as Ernst and Young, or EY. It is the new statutory auditor for a complete five-year tenure. The SRB is going to replace PricewaterhouseCoopers, or PwC, as the latter’s term of five years will expire.

After appointing SRB, she will manage the office for a complete tenure of around five years. This is going to be held after the 23rd annual general meeting. This meeting is going to be held until the conclusion of the 28th AGM.

As per the company, SRB’s appointment as a statutory auditor for five years is going to offer a fresh perspective on the auditing procedures of Paytm. It is also going to offer transparency when it comes to the financial reporting of the company.

Vijay Shekhar Sharma, the boss of Paytm, said that he plans to make the company’s ‘free cash flow positive in the future’.

In a letter written to the shareholders, Sharma shared on X that with early-stage AGI, there are going to be better opportunities to allow efficiencies in business as well as AI-first offerings.