Ravi Iyer Named CFO Of Flipkart’s Marketplace Biz

In a major top-level rejig, IPO-bound ecommerce major Flipkart has reportedly elevated Ravi Iyer to the role of the chief financial officer (CFO) of the company’s marketplace arm. 

As per Moneycontrol, Iyer, who is currently the senior vice president (SVP) of Flipkart’s corporate business unit, will report to group CFO Sriram Venkataraman. 

“As part of his additional responsibilities, he will work closely with leaders across all the functions and business units and will continue to report to me,” Venkataraman reportedly wrote in an internal memo.

The new role will be in addition to Iyer’s current charter of corporate development, group finance planning and analysis (FP&A), investor relations and the CEO’s office. With this, Kannan Ganesan (VP of business finance head), Amit Sood (business finance head of logistics arm eKart) and Ashish Surana (lead of FP&A) will report to Iyer, effective immediately.

Inc42 has reached out to Flipkart for a comment. This story will be updated shortly.

It is pertinent to note that the position of Flipkart’s marketplace CFO had been vacant ever since Sakait Chaudhary was promoted as the head of the ecommerce business. Since then, Venkataraman has been overseeing the marketplace as the CFO. This was in addition to his responsibilities as the group CFO.

As per the report, Venkataraman’s mail noted that Iyer’s appointment is part of the company’s broader efforts towards strengthening its finance leadership and fostering deeper partnerships across the organisation to achieve its priorities for the year. 

An alumnus of Calcutta University and a qualified chartered accountant (CA), Iyer counts more than two decades of experience under his belt. He joined Flipkart as senior director of business finance in 2014 and has risen through the ranks in his 11-year-long stint at the company. He also spent 12 years at FMCG giant ITC. 

Iyer’s elevation comes amid a churn in Flipkart’s top leadership. Last month, at least four executives, including an SVP and three other VPs, reportedly stepped down from their positions. 

In February, the commerce giant’s chief product and technology officer (CPTO) Jeyandran Venugopal also resigned from the company due to personal reasons. The company’s VP of ads business, Sandeep Karwa, also quit the company in the same month. 

Notably, this also comes close on the heels of the ecommerce juggernaut securing a non-banking financial company (NBFC) licence from the Reserve Bank of India (RBI) to offer loans directly to consumers and sellers on its platform.

The top-level reshuffle comes at a time when Flipkart is gearing up for its initial public offering (IPO). The ecommerce major has already received internal approvals to shift its domicile to India from Singapore. It is schedule for an IPO in 2026. 

On the financial front, the revenue of Flipkart’s marketplace arm grew 21% YoY to INR 17,907.3 Cr in FY24 while losses declined 41% YoY to INR 2,358 Cr.