Hiring top executives from other companies is not a new thing for organizations. However, Naspers-backed payment startup PayU India, has performed a massive hiring scoop by hiring not just one, but seven executives in a single blow.
According to an ET report, the startup recently brought as many as seven new executives from renowned companies.
Reportedly, the company is planning to rapidly expand its business in the near future and is strenghtening its team for that. The report further says that PayU has brought senior executives from companies like FabFurnish, Airtel, Human Factors International, InMobi, and PepperTap.
Former CTO of Fabfurnish Nimit Kumar has joined PayU as head of product for enterprise business. Ex-Vice-president for marketing at Airtel Sachin Singhal is now head of consumer business vertical at PayU.
The firm has appointed former product director at InMobi Jitender Sharan as head of engineering, non-payments. On the other hand, data science head at PepperTap Laxmikant Vyas has joined PayU as head of product, consumer credit business.
Former vice-president for advanced user experience design (UX) at Human Factors International, Amber Krishan joins PayU India team as head of user experience. In addition to above, PayU has hired former vice-president at fashion portal FashionandYou.com Mahinder Narang to head product for the non-payment business under SMB vertical.
The SMB business will be led by another new appointment Pradeep Shekhawat. Pradeep i the founder of a real money mobile gaming company for cricket fantasy sports.
Notably, PayU India has mainly three business verticals at present, all focussed on payment solutions. These include its digital wallet PayUonmey, payment gateway solution for businesses, PayUbiz and recently launched point-of-sale system for small merchants.
The firm is also reportedly planning to acquire its rival CitrusPay by next month. This can further strengthen its hold on the market. In addition to above, PayU India is now planning to enter non payment business verticals on the lines of other firms like PayTm.
Towards the same objective, it is looking to launch financial products in nonpayment vertical. It will also offer lending and investment facilities for small and midsize businesses and consumers in the next three months.
Among its existing verticals, the payment gateway PayUbiz is the most successful one. The company aims to reach transactions worth $1 billion per month on PayUbiz in the next 12 months.
It has partnered with a number of online and offline merchants for expanding this service. Enterprises Zomato, BookMyShow, Cleartrip, Ola, and redBus are already using PayUbiz as their payment gateway.