In the last few months, MobiKwik’s CPO Rohan Khara, CBO Vineet Singh and CMO Daman Soni, resigned from the platform. This week, CRO Puneet Agarwal also called it quits.
“MobiKwik is evolving to become India’s largest digital financial services platform. We are in the process of rejigging so as to address the current and future business requirements,” stated MobiKwik Co-Founder and Director Upasana Taku.
Crowdfund Insider reached out to MobiKwik for more info regarding restructuring and will post updates when received.
Now the leading Indian digital financial services platform MobiKwik has appointed three new business heads as part of the platform’s ongoing senior leadership team restructuring to achieve four-fold growth in 2018.
The new lineup includes Deepak Batra as Head- Online Business, Jalaj Khurana as Head for Unorganized Retail and Chandan Joshi as Head-Organized Retail.Batra will be responsible to help the partners drive sustained growth in the online business. Earlier in his career he was responsible for setting up monetization at OLX India, and establishing Real Estate category nationally for the classifieds business. Khurana, formerly a GTM strategist and brand builder at MobiKwik, will now be accountable for offline business through unorganised merchant network. Joshi, a former Credit Suisse financial trader in global financial markets, launched and exited Paketts.
“The hiring of the 3 Business Heads is in line with our business strategy. We are confident that the combined knowledge, expertise and experience that the 3 Business Heads will bring to the firm will further strengthen our foothold in the market,” added Taku. “This move will ensure that our leadership team that is geared up to drive the next wave of growth at MobiKwik. We look forward to a long term and fruitful association.”
To date, MobiKwik app reportedly counts over 3 million direct merchants and 107 million+ users. The platform aspires to be the largest source of digital transactions in India by 2022, by enabling a billion Indians with one tap access to digital payments, loans, insurance and investments.
Founded in 2009 by Bipin Preet Singh and Taku, MobiKwik has raised four rounds of funding from Sequoia Capital, American Express, Tree Line Asia, MediaTek, GMO Payment Gateway, Cisco Investments Net1 and Bajaj Finance. The company now has offices in New Delhi, Mumbai, Bangalore, Pune and Kolkata.