Fintech startup BharatPe has appointed former Grofers executive Vijay Aggarwal as its chief technology officer (CTO). In another development, Paytm Mall’s executive director (ED) Rudra Dalmia has resigned.
BharatPe names Vijay Aggarwal as CTO
Fintech startup BharatPe has appointed former Grofers executive Vijay Aggarwal as its chief technology officer (CTO), The Economic Times reported.
Aggarwal, an alumnus of the Indian Institute of Technology-Roorkee, joins BharatPe from digital wealth management startup Syfe, where he was the head of engineering. Prior to joining Syfe, he was a vice-president (technology) at online supermarket Grofers.
Aggarwal’s appointment comes close on the heels of BharatPe raising a $75-million funding round led by New York-based hedge fund Coatue Management and Palo Alto-based fintech investor Ribbit Capital. BharatPe claims it has already facilitated loans of Rs 100 crore to 20,000 merchants and is looking to lend to around 300,000 merchants in the next two years.
Paytm Mall denies CFO’s resignation
Paytm Mall’s executive director (ED) and chief financial officer Rudra Dalmia has put in papers, Entrackr reported.
Dalmia joined the company earlier in 2019 and was elevated to the position of executive director in June 2019 to help the company strengthen its offline-to-online (O2O) business.
“Dalmia resigned last month and is currently serving his notice period. His abrupt departure from the company raises questions on the coherence and longevity of Paytm Mall’s strategy,” the report said quoting a source.
Paytm has, however, denied Dalmia’s resignation.
“The speculations around Rudra Dalmia, Executive Director and CFO, Paytm Mall resigning are false. He is very much part of the team and continues to work towards making Paytm Mall the most efficient and best run ecommerce platform in the country,” said the company’s spokesperson.