Paytm ropes in ex-Citigroup executive Madhur Deora as CFO

Mobile payments and commerce company Paytm today said it has appointed Madhur Deora as its Chief Financial officer (CFO) and Senior Vice President.
Formerly with Citigroup Investment Banking as Managing Director, Deora brings experience in identifying new opportunities for emerging businesses and contributing to their growth, Paytm said in a statement.
At Paytm, he will also be responsible for building and managing the company's newly formed financial services business, it added.
With over 17 years of investment banking experience, the Wharton School graduate has led several important transactions in the internet space.
In 2015, he led the fund-raising discussions for Paytm with Ant Financial.

"Madhur has been a long-term friend and partner of Paytm. I am extremely happy to welcome him onboard. His expertise will help us to build our newly formed financial services business into one of the largest from India," Paytm founder and CEO Vijay Shekhar Sharma said.
The Alibaba-backed firm also has a payments bank license and plans to roll out operations soon. The company had recently raised USD 60 million (about Rs 400 crore) from Taiwanese chip designer MediaTek.
Its other investors include Ant Financials (Alipay), SAIF Partners, Sapphire Venture and Silicon Valley Bank.