Physics Wallah Ropes In Former Blinkit Executive As CFO

SUMMARY

PW said that Sachdeva will lead the strategic and financial initiatives at the company and focus on bolstering financial oversight and sustainable growth

An alumnus of SRCC and a chartered accountant, Sachdeva counts more than two decades of experience under his belt and previously worked at IGT Solutions and Wipro

The appointment comes as Physics Wallah is gearing up for a potential $400 Mn to $500 Mn IPO in 2025

Bolstering its top brass, edtech unicorn Physics Wallah (PW) has roped in former Blinkit executive Amit Sachdeva as its new chief finance officer (CFO).

In a statement, PW said that Sachdeva will lead the strategic and financial initiatives at the company, adding that the appointment will also aim to bolster its financial oversight and sustainable growth.

“Joining Physics Wallah is a great opportunity to support an organisation seeking to make education accessible to so many. I am thankful to Alakh Sir and Prateek Sir for this opportunity and PW’s objective to broaden educational access and be of help to students working towards their goals,” said Sachdeva.

PW CEO Alakh Pandey added, “Amit’s experience in financial leadership and his focus on robust corporate governance will be invaluable as we continue our efforts to grow and broaden our educational impact. His approach to finance as a transformative tool aligns with PW’s goals, and we’re happy to welcome him”.

An alumnus of Shri Ram College of Commerce and a chartered accountant, Sachdeva counts more than two decades of experience under his belt. He has previously also worked across multiple companies including IGT Solutions, Wipro, among others.

The appointment comes as Physics Wallah gears up for its initial public offering (IPO). Last month, it was reported that PW had finalised the names of four investment banking firms, including Axis Capital, Kotak Mahindra Capital, Goldman Sachs, and JP Morgan, for its $400 Mn to $500 Mn public listing next year.

The development also comes a couple of months after Physics Wallah bagged $210 Mn in a round led by Hornbill Capital, which doubled its valuation to $2.8 Bn.

Founded in 2020 by Pandey and Prateek Maheshwari, Physics Wallah offers a range of courses for K-12 students, test preparation, UPSC coaching, among others. The edtech unicorn is also backed by the likes of Lightspeed Ventures, Westbridge and GSV Ventures.

Physics Wallah slipped into the red in the fiscal year 2023-24 (FY24) and reported a consolidated net loss of INR 1,131.2 Cr, up 13.5X from a loss of INR 84.06 Cr in FY23. On the other hand, revenue from operations zoomed 2.6X year-on-year (YoY) to INR 1,940.4 Cr in fiscal under review from INR 744.3 Cr in the previous year.