Cashfree Payments Appoints Piyush Anchliya As New CFO

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SUMMARY

Cashfree Payments has appointed Piyush Anchliya as its new chief financial officer (CFO)

Cashfree said that Anchliya will take over from outgoing CFO Vikas Guru, who joined the startup in 2021

Anchliya brings with him over 15 years of experience across investment banking, corporate strategy, and M&A

Fintech soonicorn Cashfree Payments has appointed Piyush Anchliya as its new chief financial officer (CFO). Anchliya will lead the startup’s financial strategy and operations, supporting its next phase of growth.

In a statement, Cashfree said that Anchliya will take over from outgoing CFO Vikas Guru, who joined the startup in 2021.

Anchliya brings with him over 15 years of experience across investment banking, corporate strategy, and M&A. He has held senior roles in India and the US, including at Barclays and Bandhan Group. An alumnus of IIM Ahmedabad and IIT Kharagpur, he was most recently the CFO of Bandhan AMC.

Commenting on his appointment, Anchliya said, “This is an exciting time to join Cashfree Payments as it continues to drive innovation in India’s fintech space. I am looking forward to advancing our strategic priorities, creating value for our stakeholders, and contributing to our mission of delivering the best in payments to businesses across the ecosystem.”

Founded in 2015 by Akash Sinha and Reeju Datta, Cashfree operates a full-stack digital payments solutions platform that helps businesses collect online payments and make payouts. Besides integration with popular merchant platforms, the fintech platform also offers an embedded payments offering. It claims to process over $80 Bn annually for 800,000+ businesses.

The startup recently piloted cross-border payments in partnership with platforms like Swiggy, Zepto, Nykaa, BookMyShow, and Vedantu to enable overseas customers to transact in India using UPI and RuPay cards.

The pilot came after Cashfree received payment aggregator cross border (PA-CB) licence from the RBI. Cashfree also holds payment aggregator (PA-PG) and prepaid payment instrument (PPI) licences.

Cashfree raised $53 Mn in a funding round led by KRAFTON and Apis Growth Fund II in February this year. Overall, it has raised a total funding of $94 Mn+ to date and counts the likes of Y Combinator, State Bank of India, Trifecta Capital Advisors, among others, as its investors.

On the financial front, Cashfree’s loss widened marginally to INR 136 Cr in FY24 from INR 133.1 Cr in the previous year. Operating revenue grew 4.1% to INR 639.3 Cr during the year from INR 613.9 Cr in FY23.