Paytm rejigs its top deck, CFO Madhur Deora named President- 20.08.2019

Paytm has elevated its CFO and senior vice-president Madhur Deora as president in a newly created role.

The Citigroup veteran, who joined the digital payments company in 2016, will now oversee multiple business lines at the Noida-based firm. Deora, a former investment banker, will now be responsible for all of Paytm’s consumer services business, the company said

ON GROWTH PATH

“We have grown over 20 times in the past three years by creating a payments-led lifestyle and financial services app in our country,” said Vijay Shekhar Sharma, founder, and chief executive officer at Paytm.

“The next phase of our journey is to expand our offerings in consumer internet and financial services. As we expand our business, we are promoting Madhur to the role of president. He has been a key partner in this success.”

Deora, who had so far been spearheading all dealmaking at the company, had led Paytm through its multiple financing rounds along with a slew of acquisitions it has completed. One97 Communications, the parent of Paytm, has been in talks to raise a new $1-1.5 billion in fresh capital