People Digest: BharatPe names chief business officer; Todd Combs to join Paytm board

Signage for digital-payments provider Paytm, operated by One97 Communications Ltd., is displayed at a shop selling printer cartridges in Mumbai, India, on Friday, Jan. 27, 2017. Photographer: Dhiraj Singh/Bloomberg

In the latest hires, BharatPe has roped in Pratekk Agarwaal as its chief business officer to lead its push into lending while Berkshire’s Todd Combs is set to join Paytm’s board.

BharatPe names chief business officer

Sequoia-backed digital payments company BharatPe, which onboards micro merchants for Unified Payments Interface-based transactions, has roped in Pratekk Agarwaal as its chief business officer to lead its push into lending.

He has over 18 years of experience across financial services, and has worked with companies like Indostar Capital, Bajaj Capital, and Fullerton India.

Agarwaal’s appointment comes at a time when BharatPe is looking to enter into lending and other financial services for merchants. BharatPe is looking to drive credit for more than 5 million merchants within the next one year, The Economic Times reported.

Berkshire’s Todd Combs to join Paytm board

Todd Combs, investment manager at Warren Buffett’s US-based investment company Berkshire Hathaway, is expected to join Indian payments giant Paytm’s board of directors, The Economic Times reported.

Combs had led Berkshire Hathaway’s $300-million investment in Paytm in August last year.

Apart from him, Yao Michael, SVP and head of corporate finance at Alibaba Group, will also join Paytm’s board. He would replace Joseph Tsai, founding member and executive vice-chairman of Alibaba Group, on the board.