Online payments gateway Razorpay has named Arpit Chug as its first Chief Financial Officer (CFO), a development which comes in alignment with Razorpay’s major recruitment drive for 2020.
As a part of his new appointment, Chug will be responsible for levelling- up of Razorpay’s lending segment, Razorpay Capital, as well as the neo-banking platform, RazorpayX. Further, he will be a part of the expanding core payments business where he will play an active role in recognising new opportunities and solving new-age banking problems.
“My key responsibilities will be to look after the 3Cs. These include effective capital allocation of our resources, having compliances and processes in place, and cost management to meet the ambition of expansion in providing newer ranges of products and services to the customers,” said Chug.
Besides, he wants to help introduce products and services that can offer a solution to banking problems for his fellow CFOs and MSME customers.
“Having been in financial services from the start, I think this is an exciting opportunity. Razorpay’s story of continuous innovation and disruption is commendable. I am excited to be part of an organisation that has demonstrated such ambition and advancement in delivering value around payments and banking, and I look forward to some of the milestones we can achieve together, “he added.
Chug was earlier associated with American Express as India CFO for 17 years and was also a part of Associate Investment Banking at CLSA Ltd. He holds rich experience in the expansion and management of finance teams across verticals that include Merchant Acquisition, Consumer Cards and Corporate Cards.