Former Nykaa CFO Arvind Agarwal joins PayU India as chief financial officer

"We are excited to welcome Arvind to our leadership team," said Prosus-owned PayU India in a statement

Days after the beauty e-retailer Nykaa announced the departure of its chief financial officer Arvind Agarwal, he has accepted a position as CFO at Prosus-owned PayU India.

Confirming the development, PayU India said in a statement, "India is the largest market for PayU and we are witnessing unprecedented growth in this region. We are excited to welcome Arvind to our leadership team at this opportune time with the company heralding a new growth journey."

The statement further said that Agarwal is a versatile leader who has led finance strategy at both startups and billion-dollar tech companies. "His experience will prove to be invaluable in furthering PayU's vision of creating a full stack digital financial services platform in India to serve all financial needs of our customers through technology," PayU added.

Agarwal's move comes two years after he joined Nykaa in July 2020. 

Nykaa had informed stock exchanges of his exit in a regulatory filing on November 22. Falguni Nayar, founder and chairperson, said in the statement, "Arvind deserves kudos for the critical role he has played in Nykaa's emergence as a listed and profitable start-up. While we do regret losing him, we are conscious of his personal dreams, and wish him all the luck."

(With iputs from agencies)