PayU India has appointed Anirban Mukherjee as its CEO, reports the Economic Times. Mukherjee joins PayU from Reliance Payments where he was the co-CEO. Mukherjee will look after business worth $100 million (growing at 30% YoY), build the company’s credit business and partner with financial institutions.
Mukherjee comes in place of Amrish Rau, who started heading fintech partnerships and investments at PayU’s South Africa based parent company Naspers since last month. At the time, PayU India’s managing director Jitendra Gupta became the head of LazyPay. Both Rau and Gupta joined PayU after it acquired Citrus Pay – a fintech company they founded – for $130 million in cash.
Last month, PayU separated its lending entity – PayU Finance India – from the main company, presumably to turn the entity into a lending business, after PayU India’s NBFC license was approved in September last year. Jitendra Gupta leads the entity out of Mumbai with around 100 employees. PayU claims that its credit products customer base is 1 million, and it has disbursed credit worth Rs 200 crore.
PayU India metrics
- PayU claims to cover 60% of the airline business payments, and 90% of ecommerce payments
- It claims to process payments of Rs 90,000 crore annually
- Counts Amazon, BookMyShow and Ola as clients
- Claims 450,000 merchants