Mumbai-based financial inclusion services provider FINO PayTech Ltd (formerly FINO Ltd) has elevated Rishi Gupta as its managing director (MD) and chief executive officer (CEO), according to a press release.
Gupta, currently serving as COO & ED, has been overseeing the business operations since December 2013. His responsibilities include business execution and engagement for clients of FINO.
He takes over a post left vacant a little over a year ago when co-founder and chief Manish Khera had resigned from the company over a reported disagreement with the board members of the privately held firm. Khera had later joined mobile-based prepaid payment solutions provider YTS.
Gupta has more than two decades of experience in manufacturing, banking and international institutions. Starting his career with Maruti Udyog Ltd, where he headed the budget and MIS department, Gupta then moved on to join ICICI Bank. Prior to joining FINO PayTech, he was working with the regional office of International Finance Corporation (IFC) in New Delhi.
He joined FINO as a director and CFO in 2006 and under his guidance the company has ventured into new business verticals and also applied for payment bank licence recently.
Commenting on his promotion, Gupta said, “These are interesting as well as challenging times for FINO as we embark on an ambitious foray into retail business. As an organisation our endeavour would be to grow in the financial inclusion and payments space with continuous focus on innovation, customer centric approach and value creation for all stakeholders.”
He is a chartered accountant and did his B Com from Shri Ram College of Commerce.
Founded in 2006, FINO is a financial inclusion software solutions and services company. It has received funding from multiple investors. Its key investors include Intel Capital, IFC, Headland Capital and Blackstone, as well as various banks.
(Edited by Joby Puthuparampil Johnson)