PayU India has appointed Anirban Mukherjee as its new CEO who was serving as the co-chief executive of Reliance Payments till date. PayU is owned by Naspers and has chalked out its strategy to double the transactions under its kitty to $2 billion in the coming two years.
As per a statement published in Economic Times of Laurent Le Moal, global chief executive of PayU, Mukherjee will be managing $100 million business of the company which is soaring at a rate of 30 per cent YoY.
“Mukherjee is coming on board at a very interesting time for PayU and Naspers fintech in India. The business is now significantly bigger… PayU is no longer a startup in India. It’s a leading digital payments player, and so you need to bring on board someone with international expertise,” said Le Moal to ET.
Mukherjee is an alumnus of IIT Kharagpur and IIM Ahmedabad. Apart from Reliance Payments, his previous career stints include Capital One, Standard Chartered Bank and Accenture.
Incepted as a payment platform, PayU in the last two years has also focussed on achieving a two-fold growth in the consumer credit segment. The company is now gearing up to bolster its presence in the SMB lending space.
Mukherjee will be replacing Amrish Rau who will now serve as the head of financial technology partnerships and investment for the parent firm Naspers.
“One of our responsibilities is to give new challenges to our leaders. Who better than Amrish to animate and create this fintech ecosystem? He will be a fantastic mentor to all the fintech entrepreneurs. Jiten has been extremely successful in building the first consumer business for PayU,” said Le Moal .
“We are now doing two million transactions a month with LazyPay…Credit is now a full-fledged business. Jiten has been absolutely fantastic in starting the business, but at one point you need to have someone with experience building and managing billion-dollar loan books because that is our ambition for India in a few years,” Le Moal added.
