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Cashfree Payments, Moglix strengthen financial leadership with key hires

VCCircle

VCCircle · 3m ago

Cashfree Payments, Moglix strengthen financial leadership with key hires

Moglix and Cashfree Payments have strengthened their financial leadership with key new hires. Moglix appointed Sanjeev Arora as CFO to lead their financial strategy and oversee IPO preparations within 12-24 months. Arora brings extensive experience from roles at ASK Automotive and Mosaic India. Cashfree Payments named Piyush Anchliya as CFO, succeeding Vikas Guru. Anchliya, previously at Bandhan AMC, aims to drive strategic priorities. Both companies, founded in 2015, seek to optimize financial operations and strategies.

Related News

Inside Paytm’s Big Reset: CEO Vijay Shekhar Sharma Takes Charge Of Key Verticals As Leaders Exit

Inc42 · 1y ago

Inside Paytm’s Big Reset: CEO Vijay Shekhar Sharma Takes Charge Of Key Verticals As Leaders Exit

Paytm, the Indian fintech giant, is undergoing a major restructuring amid a wave of top leadership exits. CEO Vijay Shekhar Sharma will take charge of key verticals and work directly with new leadership. Several business heads, including those focused on UPI, merchant payments, and consumer payments, have recently resigned. The changes come as Paytm faces compliance issues and the Reserve Bank of India's restrictions on its payments bank. CEO Sharma aims to strengthen the company's leadership, reinvigorate its approach, and address regulatory compliance concerns. Paytm is expected to disclose its financial performance at the end of May.

Cashfree Payments raises $53 Mn led by KRAFTON

Entrackr

Entrackr · 6m ago

Cashfree Payments raises $53 Mn led by KRAFTON

Cashfree Payments raises $53 Mn led by KRAFTON The capital will strengthen Cashfree’s payments and market reach while enabling synergy with KRAFTON to drive innovation across digital sectors. Payments firm Cashfree Payments has raised $53 million (Rs 450 crore) in a funding round led by Korean digital entertainment giant, KRAFTON and existing investor Apis Growth Fund II, a private equity fund managed by Apis Partners Group. The capital will strengthen Cashfree’s payments and market reach while enabling synergy with KRAFTON to drive innovation across digital sectors, the Bengaluru-based company said in a press release. According to TheKredible, Cashfree has raised approximately $95 million over its nine-year journey from investors including Y combinator, Smilegate Investments and State Bank of India (SBI). This is the first external fundraise for the company since June 2021. Cashfree Payments provides businesses with a fast and easy way to collect payments online, make payouts, improve conversions, and verify identity and detect fraud during KYC and onboarding. With popular merchant platforms like Shopify, Wix, WordPress, WooCommerce, and WhatsApp, Cashfree enables businesses to start transactions in 24 hours. The Akash Sinha-led company claims to enable large businesses to process 12,000 transactions per second during peak demand. It has also introduced Embedded Payments, allowing platforms, ERPs, and SaaS businesses to easily and compliantly integrate payments as a feature into their products. Cashfree recently launched Secure ID, an identity verification stack with a comprehensive suite of APIs and KYC components, addressing the surge in fraud. As per the company, SecureID has completed more than 1 billion identity and user verifications to date. Besides India, Cashfree Payments is expanding its footprint in the UAE and sees significant growth potential offering payments and related products across the Middle East. Despite facing a ban on onboarding new merchants for most of FY24, Cashfree's revenue from operations grew by 4.7% to Rs 642.7 crore from Rs 613.8 crore in FY23. However, the company's net loss remained unchanged at Rs 135 crore for the fiscal year ending March 2024. It majorly competes with Razorpay, PayU, BillDesk, and CCAvenue.

Cashfree appoints Piyush Anchliya from Bandhan AMC as new CFO

Economic Times

Economic Times · 3m ago

Cashfree appoints Piyush Anchliya from Bandhan AMC as new CFO

Cashfree Payments, an online payment processor based in Bengaluru, has appointed Piyush Anchliya as its new CFO, succeeding Vikas Guru. Anchliya, with over 15 years of experience in financial services from Barclays Investment Bank and Lehman Brothers, will focus on financial strategy and operational optimization to support Cashfree's growth. Previously the CFO at Bandhan AMC, Anchliya will report to Cashfree cofounder Akash Sinha. Cashfree recently secured significant funding and an RBI license.

MobiKwik partners with Cashfree Payments to offer ‘ZIP Pay Later' services

IndianStartupNews

IndianStartupNews · 1y ago

MobiKwik partners with Cashfree Payments to offer ‘ZIP Pay Later' services

MobiKwik today said it has partnered with with Cashfree Payments, a payments and API banking startup, to offer interest-free credit for its users at their fingertips by integrating ‘ZIP Pay Later’ with Cashfree Payments’ Payment Gateway.

Tackling fake Aadhaar cards and cross border payments: Inside Cashfree’s next phase of growth

YourStory

YourStory · 3m ago

Tackling fake Aadhaar cards and cross border payments: Inside Cashfree’s next phase of growth

Cashfree Payments, a Bengaluru-based fintech company, focuses on AI-driven fraud prevention and cross-border payment solutions. The company plans to expand its Secure ID fraud-detection suite and capture cross-border payment flows, anticipating substantial growth. Cashfree leverages AI for identity verification and fraud detection, contributing significantly to its revenue. Co-founders Reeju Datta and Akash Sinha highlight their strategy of building robust infrastructure to facilitate international and domestic transaction flows, aiming to strengthen their position in India’s digital payments market.

Cashfree appoints Nitin Pulyani as its head of product

Economic Times

Economic Times · 10m ago

Cashfree appoints Nitin Pulyani as its head of product

Digital payments startup Cashfree Payments has appointed Nitin Pulyani as its Head of Product and Senior Vice President. Pulyani, who previously worked with fintech companies like PhonePe and Jupiter, will lead product innovation and develop growth strategies for Cashfree. This appointment comes after Cashfree recently secured licenses from the Reserve Bank of India for payment aggregation and cross-border payments. With transaction worth $80 billion annually, Cashfree serves over 600,000 businesses and is expanding its presence in West Asia through its partner, Telr.

Cashfree receives NPCI certification for its own UPI switch

Economic Times

Economic Times · 9m ago

Cashfree receives NPCI certification for its own UPI switch

Cashfree Payments has received certification from the National Payments Corporation of India for its UPI Switch service. This certification allows Cashfree to directly integrate with any bank's core banking software, resulting in a higher transaction success rate for its merchants. With this certification, Cashfree can settle around 12,000 transactions per second. The UPI Switch was developed in collaboration with NSDL Payments Bank as the sponsor bank. This achievement will lead to a 5% increase in Cashfree's transaction success rates, faster merchant onboarding, and improved control over the payments process. Cashfree Payments is a leading payment aggregator trusted by over 600,000 businesses, processing transactions worth $80 billion annually.

Paytm plans to revamp senior leadership, key

YourStory

YourStory · 11m ago

Paytm plans to revamp senior leadership, key

Paytm, the Indian digital payments giant, is set to expand its senior leadership team with key appointments in the near future, according to CEO Vijay Shekhar Sharma. The company has experienced a number of high-level departures recently, including the President and Chief Operating Officer, as well as the Chief Business Officers of UPI & User Growth, and Offline Payments. Despite these exits, Paytm has made important hires to strengthen its leadership, such as the appointment of Narasinganallore Venkatesh Srinivasan as a Non-Executive Independent Director and Rakesh Singh as CEO of Paytm Money Ltd.

AZB, JSA, Trilegal, Cyril Amarchand beef up top deck with elevations, new hires

VCCircle

VCCircle · 4m ago

AZB, JSA, Trilegal, Cyril Amarchand beef up top deck with elevations, new hires

Several leading Indian law firms, including AZB & Partners, JSA Advocates and Solicitors, Trilegal, and Cyril Amarchand Mangaldas, have recently promoted lawyers to partnership levels and made key new hires. This strategic move aims to strengthen their leadership capacity in response to the growing demand for comprehensive legal services. The firms are enhancing their teams to better cater to the expanding needs of their clients and maintain competitive advantage in the legal industry.

Cashfree Rolls Out Payment Solution For Software Businesses

Inc42 · 1y ago

Cashfree Rolls Out Payment Solution For Software Businesses

Cashfree Payments has introduced Embedded Payments, a new payment solution for software platforms to enhance the payment experience for businesses. This solution enables software platforms, such as ERPs, CRMs, SaaS, or billing platforms, to facilitate direct payments between businesses and users. It seamlessly integrates financial transactions within the digital platform, allowing end users to initiate payments and transfer funds to the business's designated account within the platform's environment. Cashfree claims that over 120 payment modes can be offered without redirects or external interfaces. The solution simplifies merchant onboarding and provides easy integration for managing payments, refunds, and settlements.

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