Naspers-owned payment gateway PayU has appointed former Snapdeal executive Aakash Moondhra as its global chief financial officer, reports TechCircle. The report added that Moondhra will be handling the company’s finance operations and develop Naspers’ financial tech business.
In his previous role, Moondhra was instrumental in Snapdeal raising about $1 billion in funding, across rounds, from a clutch of marquee investors, led by Japanese telecom, media and Internet investor giant SoftBank, Singapore’s Temasek and PremjiInvest, the private investment arm of Wipro Chairman Azim Premji. Moondhra resigned from the e-commerce company in April and it was reported that he would still continue in an advisory role.
According to Moondhra’s LinkedIn profile, he also serves as an independent director at V-Mart Retail. Moondhra had previously worked at Baring Private Equity Partners (India), Bharti Retail, Bharti Airtel and AT&T.
In recent times, PayU has been strengthening its top management. In August, the company appointed Raj Kamal as its VP of strategy and Sanjeev Sandhu as business head of PayU Global technology solutions business. In July, PayU also appointed PayUMoney, appointed Prabhakar Tiwari as its Chief Marketing Officer. In his new role, Tiwari would be responsible for the public relations and marketing activities carried out by PayU.
In January 2014, PayU was made independent of the Ibibo Group (MIH India), and as a part of a changed reporting structure, and PayU CEO Nitin Gupta would report to the company’s South African parent Naspers. PayU’s payment gateway business in India was rebranded from PayUPaisa (paisa means money in Hindi) to PayUMoney. Apart from India, PayU is present in present in the Czech Republic, Hungary, Latin America, Poland, Romania, Russia, South Africa, Turkey and Ukraine.
PayU India was started in 2011 as a unit of Gurgaon-based Ibibo Group, which is controlled by Naspers Group.