PayU Finance Reshuffles Top Deck, Deepak Mendiratta Elevated To CEO

PayU Finance Reshuffles Top Deck, Deepak Mendiratta Elevated To CEO

SUMMARY

Mendiratta takes over from Prashanth Ranganathan, who left the company six months ago to launch a new fintech venture

The above development in leadership roles likely runs parallel to the restructuring plan taking place across the board at the Dutch-listed technology investment firm

Previously, Inc42 reported that PayU India intends to file its draft red herring prospectus (DRHP) with markets regulator SEBI in February for an initial public offering (IPO) of at least $500 Mn

In a leadership churn at Prosus-owned PayU’s NBFC credit arm PayU Finance, the company has promoted its chief risk officer Deepak Mendiratta as the new chief executive officer and also roped in former chief of DBS Bank Manish Kulkarni as its chief financial officer.

Moneycontrol reported the development first. Mendiratta replaces Prashanth Ranganathan, who put in his papers six months back to float a new fintech venture.

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