Amritsar, NFAPost: Digital payments and financial services startup MobiKwik has promoted Chandan Joshi as its Co-Founder and Chief Executive of its payments business ahead of its initial public offering (IPO) plans.
The startup has said that it has kickstarted its IPO 2022 campaign with this appointment. The company had earlier said that it had plans to go public in 2022.
Joshi was earlier part of the MobiKwik leadership team for over two years now as Senior Vice President.
“My journey with MobiKwik so far has been very fulfilling – I joined in the aftermath of demonetisation and my first assignment was organising the retail payments business, then to run e-commerce payments and finally to grow all of the payments business. I am confident that together we will be able to profitably grow MobiKwik and take the company public,” Joshi was quoted in a statement.
In this new position, Joshi will take on complete ownership of the company’s flagship payments business that drives around 75% of the total revenues.
“It has been fantastic seeing Chandan build the Payments Business for the past 2.5 years with amazing zeal and conviction. Chandan has demonstrated all the right traits that we look for in a business leader – he leads from the front, is invested in his teams, is tenacious in driving business results and in closing large strategic deals. He has been a strong growth driver for MobiKwik and we want him to partner with us as a co-founder in the overall build-out of the company,” Co-Founder and CEO of MobiKwik Bipin Preet Singh said.
This is the first time that MobiKwik has given the Co-Founder title to anyone outside the original founding team.
MobiKwik has three business lines — consumer payments, financial services (which houses its digital lending, insurance and mutual fund offerings), and payment gateway.