The appointment affirms MobiKwik’s commitment to its payment gateway, Zaakpay.
MobiKwik, India’s largest digital credit platform, today announced that it has appointed Siddharth Dhamija as CEO of Zaakpay. Zaakpay, a wholly-owned subsidiary, is the payment gateway arm of the company, which clocked 194 crores revenue (up from 103 crores in FY2019) and 3 crores profit in FY2020. The company is building out its leadership team ahead of its IPO campaign, this is the second CXO appointment in the last 3 months.
Siddharth comes to Zaakpay with 23 years of experience with 5 years in Payments. In his most recent role, he led the Enterprise Business at PayPal India and was part of the founding team that launched PayPal’s Domestic Payments business. He was also responsible for growing Cross-border Payments business and managing partnerships with global merchants present in India. Prior to PayPal, Siddharth was a part of the founding team at Razorpay as its Chief Growth Officer. He led the Business function from scratch and delivered strong growth for the company during his tenure. He has also worked in Business roles in Middle East & Africa during his stints with publicly listed companies like Subex.
Bipin Preet Singh, co-founder and CEO, MobiKwik, said, “We have seen 100% growth in FY20 thanks to our resilient and turbo-charged team. Digital Payments in India is exploding and we intend to capitalize on the opportunity to serve the payment needs of India’s online businesses. Siddharth’s appointment is a move towards strengthening our Payment Gateway (PG) business - Zaakpay. He is tenacious in driving results and we are confident that he will aggressively grow the PG business by elevating our product, brand, team, and service. With an independent charter under Siddharth’s leadership, we expect the Zaakpay Business to deliver multi-fold growth in revenue and strive to be the best payment gateway product in India.”
Speaking on his announcement, Siddharth Dhamija, CEO, Zaakpay added, “In the past decade, we have seen a strong emergence of Fintech in India and within that the Payments ecosystem has grown multi-folds. Leveraging my learnings from Paypal & Razorpay, we will offer easy to integrate payment products and a highly reliable PG platform to our clients. I look forward to scaling up Zaakpay to new heights of success over the next few years.”