Fintech startup PayU’s Global CFO, Akash Moondhra, has resigned on Thursday. He joined PayU after leading the finance activities at V-Mart for around 13 years. Prior to which, he held considerable positions in companies such as Snapdeal, ZestMoney, Nokia, Bharti Airtel and AT&T.
Notably, the fintech company was owned by Prosus which sold it to Israel’s Rapyd for USD 610 million in this August. The move prioritised its sales operations in India, Turkey and Southeast Asia. The Global Payments Organisation (GPO) unit at PayU had its operations in countries such as Latin America, Central and Eastern Europe and Africa.
In a post on Linkedin, Moondhra cited September 30 as his last working day at the company. He termed his decision as ‘end of an era’.
The post mentioned that, “ September 30,2023 will be my last day at PayU in the capacity of global CFO. It has been an enriching and journey. The business grew almost 20 times in volumes processed, approximately 10 times in revenues crossing a billion dollars in and profitable.”
The decision arrives in the backdrop of media reports claiming since a month that PayU’s global CEO Laurent Le Moal and Moondhra are planning to exit the organisation. Furthermore, CEO at PayU Credit Prasanth Ranganathan is also quitting the organisation. His stint began in the company after his own-built PaySense was acquired by PayU in 2020.
The GPO unit at PayU registered for around 30 per cent of the company’s total income. In FY23, the overall payment volumes experienced a 12 per cent year-on-year (YoY) growth, making USD 34 billion.
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