Paytm Money names Varun Sridhar as CEO, elevates Amit Kapoor as VP & CFO

Former FinShell India CEO Varun Sridhar has been appointed as the Chief Executive Officer of Paytm Money, where he will handle the development of equity brokerage, mutual funds, NPS and gold services, say media reports. He will be reporting to Amit Nayyar, President at Paytm. Amit Kapoor has been elevated as the VP and CFO of the company.

Prior to joining Paytm Money, Sridhar served at Bengaluru-based FinShell India, an Oppo Group company, where he launched PaySa a fintech app. And before that, he had a seven-year and eight-month association with BNP Paribas where he held various leadership roles. He also oversaw the acquisition of Sharekhan, serving on its board of directors.  In his previous roles, Sridhar has also served at Citi Bank, Deutsche Bank and Value Partners. He did his MBA from the prestigious SDA Bocconi School of Management, Milan Italy, and graduated from the University of Delhi.

Paytm Money has also promoted Amit Kapoor as its new CFO & VP. Prior to this role, he had been the CFO at Paytm General Insurance for a four-month period. Before that, Kapoor was with Aviva India for close to four years.

Amit Nayyar, President at Paytm said, “Paytm Money is on a mission to empower millions of Indians with wealth management products. We are very excited to welcome Varun, whose experience in retail banking, broking, and wealth segment would help us accelerate our goals. I look forward to working closely with him to expand Paytm Money further."

Varun Sridhar, CEO at Paytm Money said, "I am thrilled to be part of the team that is responsible for introducing wealth management services to consumers in both India and Bharat and making meaningful financial inclusion simple & easy. At Paytm Money, I hope to build along with a fantastic team the most cost-effective & consumer-friendly products & experience for investors & traders. 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."

Paytm Money is headquartered in Bengaluru and has a team of over 300 employees. The company has over 6 million users on its platform, availing direct mutual funds & NPS. Paytm Money aims to invest Rs 250 crores over the next 12-18 months as it has planned to launch new businesses including equity brokerage in this financial year.