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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.
Also read: Paytm Payments Bank rolls out new features on Paytm UPI
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.
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