16 August 2016, India :
Paytm is all set to hire Citigroup senior executive Madhur Deora as its Chief Financial Officer, according to two people close to the development.
Deora has more than 17 years of experience working with Citigroup’s investment banking division and is distinctively known for helping JustDial with its IPO in 2013. Deora also led the fund raising discussions for Paytm with Alibaba in 2015.
Paytm is in the process of creating a 1,500-people team for its payments bank business over the next six months. Launched in 2014, the company is backed by investors such as Alibaba Group, SAIF Partners and Sapphire Venture. The company claims to have over 130 million users, with over 90 million transactions every month.
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