Mswipe Promotes Ketan Patel As Cofounder, Appoints New CB

[Update] Exclusive: Mswipe Raises $20 Mn From Alpha Wave Ventures, Others

SUMMARY

Nayantara Bhargava, who was formerly in charge of banking and partnerships, has been elevated to the role of chief business officer

Mswipe said the appointments will strengthen its position in the Indian market at a time when it is eyeing global expansion

Mswipe, which recently partnered with Etisalat in the UAE, has already started operations in Singapore, with plans to launch in other countries as well

Fintech major Mswipe Technologies has elevated chief executive officer (CEO) Ketan Patel as a cofounder. Additionally, Nayantara Bhargava, formerly in charge of banking and partnerships, has been elevated to the role of chief business officer.

In a statement, the company said that this diverse leadership is aimed at creating an inclusive and dynamic environment that fosters success and equality. With this, MSwipe aims to propel its growth in India on a global front, while promoting innovation, and providing a seamless experience to the merchant community.

Commenting on the new elevations, cofounder and CEO Patel said, “This initiative has been taken to strengthen the position of Mswipe Technologies in the Indian market, but while we maintain our focus on that, we plan to expand our reach to multiple other countries in the near future.

The company, which recently partnered with Etisalat in the UAE, has already started operations in Singapore, with plans to launch in other countries as well, he added.

“The advancements in Mswipe’s leadership team marks a significant stride in fortifying the company’s journey. As we embark on international ventures, our unwavering focus remains on strategic initiatives, customer-centricity, innovation, and sustainable growth,” Patel added.

Founded in 2011 by Manish Patel, Mswipe is an omnichannel digital payment platform providing a host of payment acceptance solutions to merchants across categories across 800 cities and towns of India.

It also offers digital lending to merchants through its non-banking financial corporation (NBFC) arm Mcapital. The Mumbai-based fintech major counts the likes of B Capital, UC-RNT, Falcon Edge Capital, Matrix Capital Partners, DSG Partners and Epiq Capital among its investors.

Last year, Mswipe got approval for the license of a payment aggregator from the Reserve Bank of India. Back then, it said that the company would look forward to developing an in-house online payment gateway to offer full-stack payment solutions to offline and online merchants and plans to add more merchants to the platform.

Besides Mswipe, a number of other fintech startups have also made announcements of new appointments in recent times.

Recently, fintech unicorn Razorpay elevated Rahul Kothari to the position of Chief Operating Officer (COO) for India and Malaysia. PayU India announced the promotion of Anirban Mukherjee to the role of CEO, in which he would be responsible for the overall business management of the company.

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