homestartup NewsMobikwik appoints Mukul Saxena as CEO of its financial services platform Zaakpay

Mobikwik appoints Mukul Saxena as CEO of its financial services platform Zaakpay

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By Pihu Yadav  Sept 17, 2022 12:14:18 AM IST (Published)

The unicorn fintech company MobiKwik, backed by Sequoia Capital, said on Friday that Mukul Saxena, a former employee of IndusInd Bank, has been named CEO of its financial services and payment gateway platform Zaakpay.

The unicorn fintech company MobiKwik, backed by Sequoia Capital, on Friday said that Mukul Saxena, a former employee of IndusInd Bank, has been named CEO of its financial services and payment gateway platform Zaakpay.

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According to Bipin Preet Singh, co-founder, managing director, and CEO of MobiKwik, "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."
Saxena has over 20 years of experience in the finance environment and with digital payments. He formerly served as executive vice-president and director of the payments department at IndusInd Bank. With responsibility for all cards and payment businesses, including debit cards, prepaid cards, and merchant accounts, he was in charge of the payments product and business team.
He oversaw IndusInd Bank's alliances with significant e-commerce merchants and fintech firms.
Saxena formerly worked for a number of other banks and enterprises, including ABN AMRO and SABB (HSBC, Saudi Arabia).
MobiKwik started up in 2009 as a digital wallet. The fintech sector has widened its product offerings over the last few years to include the buy-now-pay-later (BNPL), payment gateway, lending, wealth management, and insurance industries.
According to MobiKwik, which is backed by Sequoia and Bajaj Finance, its payment, credit, and investment products have been made available to around 127 million consumers and 3.7 million merchants. In the 2021–2022 fiscal year, the corporation increased its user base by about 22 million (FY22).
The business generated Rs 540 crore in revenue in FY22, an increase of 80 percent over the previous year. However, the business did not provide its profit or loss summaries for FY22.
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