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Bengaluru, NFAPost: Paytm, operated by One97 Communications Ltd, has appointed Bhavesh Gupta as chief executive officer (CEO) of its lending business.

In his new role, Bhavesh will develop and expand Paytm’s lending services and help the company create new credit products for customers and SMEs in partnerships with other banks and NBFCs.

Bhavesh Gupta comes with over two decades of experience in banking and will be reporting to Paytm President Amit Nayyar. He will strengthen Paytm vision of financial inclusion for 500 Milion Indians.

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Under his leadership, Paytm will continue to simplify, innovate, and bring new credit products to millions of Indians and SMEs in partnerships with other banks and NBFCs.

Bhavesh has led the digital transformation journey of some of the top retail banks and NBFCs in the country. Most recently, he served as the Founding Member & CEO of Clix Capital that was earlier known as GE Capital India.

There he focused on building a well-diversified NBFC in digital consumer and MSME lending along with urban affordable housing segment driven by cutting edge technology and analytics to deliver simple, fast, innovative, and customised solutions to customers.

Prior to this role, he was Founding Member and Head — SME & Business Banking at IDFC First Bank for two years. Bhavesh has spent more than a decade at ICICI Bank where he played a senior role across retail banking, both on liabilities and lending side of the business.

The decision comes close on the heels of appointing former CEO of insurtech startup Coverfox Premanshu Singh as senior vice president and the head of its insurance business in last March

Welcoming him to Paytm leadership team, Paytm President Amit Nayyar said Paytm is on a mission to democratise diversified financial services in the country and access to credit for consumers and small businesses is a critical enabler to fulfill their ambitions and wishes.

“We are very excited to welcome Bhavesh, whose experience would help us accelerate our goals. I look forward to working closely with him to expand our lending business further along with our esteemed banks and NBFC partners,” said Paytm President Amit Nayyar.

Expressing happiness on his appointment, Bhavesh Gupta said he is thrilled to be part of the team that is responsible for introducing innovative products like Paytm Postpaid making a meaningful effort to promote financial inclusion in the country.

“I plan to build along with a fantastic team the most cost-effective & consumer-friendly lending products for all citizens. 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,” said Bhavesh Gupta.

The company continues to build its presence in financial services through multiple senior hires in the last 12 months across insurance, Paytm Money, and now lending business vertical. In its lending business, the company has launched Paytm First Credit Card, Paytm Postpaid, Personal Loans and Merchant Cash Loans in partnership with bank and NBFCs.

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