MobiKwik has appointed Sushant Kashyap as the head for its payment gateway and international business, reports Mint. The report adds that MobiKwik is looking to grow its payment gateway by 400% in the next year. The payment gateway arm was launched in 2011, and is also targeting $20 billion in online payment processing in the next 2-3 years, Kashyap said.
According to Kashyap’s LinkedIn, he has been working with MobiKwik since September. Before joining MobiKwik, Kashyap was senior VP of sales at Delhivery. Before Delhivery, he held several positions at Airtel for about 9 years: from head of strategic alliances to sales manager (enterprise) and BD executive. He was also the founder and managing partner for Bharatiya Enterprises for 2 years. Kashyap has 16 years of experience.
Kashyap’s position was previously held by Rukaiya Rangwala who joined MobiKwik last April, but left within a year.
‘Top level exits should be a concern’
The churn at MobiKwik’s top leadership for the last 2 years has not been a secret. About a month ago, MobiKwik shut down two of its offices, laid off several employees, and scaled back its retail business. At the time, a source told MediaNama, ‘The writing was clear on the wall when there was no big fundraise last year.’ Top leadership ‘knew nothing would happen,’ leading to a string of exits, they added.
- Vineet Singh (Chief Business Officer) and Akash Gupta, VP of Marketing quit the company in 2017.
- This was followed by Daman Soni (CMO), Vivek Sinha (Retail Head), Rukaiya Rangwala, the head of the payment gateway & online business, and Rohan Khara (Chief Product Officer) who all left this year.
- MobiKwik’s CRO, Puneet Agarwal, also left in 6 months after joining earlier this year, a development the company denied to MediaNama. Agarwal now works at WeCash.