MobiKwik Names Mukul Saxena CEO of Zaakpay

Multi-faceted funds platform MobiKwik has named banking veteran Mukul Saxena chief govt of its Zaakpay enterprise.

Saxena beforehand, based on the announcement, was govt Vice President and head of the funds enterprise at IndusInd Bank. Zaakpay is a part of an enlargement at MobiKwik that has seen the enterprise go from providing a digital pockets to offering on-line banking, credit score and purchase now, pay later companies. The announcement of Saxena’s appointment states that he “comes with over two decades of experience in the digital payments and the fintech ecosystem. In his previous role at IndusInd Bank, he was the executive vice president and head of the payments business.”

“Mukul joins us at a strategic time; he will help us move exponentially towards our long-term objective of transforming into a full-service neobank,” Bipin Preet Singh, co-founder, managing director and chief govt of MobiKwik, stated in a ready assertion.

MobiKwik’s backers embody Sequoia. The firm says that as of current investments, it has achieved unicorn standing, a market worth of $1 billion or extra. PYMNTS reported in June that the corporate had delay a deliberate preliminary public providing, however had a plan to boost $100 million in fairness financing.

Read extra: After Postponed IPO, India’s Mobikwik Seeks $100M in Funding

Saxena labored, earlier than IndusInd Bank, at ABN AMRO and SAAB (HSBA, Saudi Arabia), based on MobiKwik.

The firm says its income grew 80 % 12 months over 12 months in 2021.

MobiKwik states it has 127 million particular person clients and three.7 million service provider clients.

In April 2021, MobiKwik was compelled by authorities in India to rearrange an exterior audit following a knowledge leak.

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