Digbijay Mishra | TNNBengaluru: Payments platform Paytm has promoted its CFO Madhur Deora to the position of president of the company. Deora, as part of the new role, will be responsible for profit and loss of Paytm’s all consumer business verticals like movie ticketing, travel, deals, and content among others.
Deora, who joined Paytm in late 2016, spent over 17 years at the investment banking arm of Citi. Prior to joining Paytm, he was MD of Citi’s investment banking unit. He will report to Vijay Shekhar Sharma, founder and CEO, Paytm.
This would make Deora the only senior executive at the firm to hold the designation of president. Prior to this, Bhushan Patil, who joined Paytm from Alibaba in 2016, was the only senior executive at the firm as president. He left the company in April to start his fund to back early-stage startups. Deora will continue to head finance for Paytm, but the company said it is looking for a new candidate for the position of CFO.
“We have grown over 20 times in the last three years by creating a payments-led lifestyle and financial services app in our country. 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. He has been a key partner in this success,” said Sharma.
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