Razorpay Appoints Former American Express Executive Arpit Chug as its CFO

Razorpay Appoints Former American Express Executive Arpit Chug as its CFO

CEO Insights team , Press Release

Razorpay, a leading full-stack financial services company, announces the appointment of Arpit Chug as its Chief Financial Officer (CFO). The former American Express India CFO will now be responsible for scaling up Razorpay’s Lending arm - Razorpay Capital, and the recent addition of Corporate Credit Cards to its neo-banking platform, RazorpayX. He will also play an important role in growing Razorpay's core payments business and assist in launching new business verticals.

Arpit has an immense experience of over two decades in expanding & managing large teams across geographies of Asia, Europe and the US. During his seventeen year stint with American Express, he has spearheaded finance teams across several verticals including Merchant Acquisition, Consumer Cards and Corporate CardT; thus possessing a first-hand experience in building new products and scaling up businesses.

Commenting on this appointment Harshil Mathur, CEO & Co-founder, Razorpay says, “With a continuous focus on making payments and banking more transformational and impactful for businesses, Arpit’s timing of joining us with his demonstrated skills of growing businesses is perfect.” “Arpit brings tremendous depth and breadth of finance expertise, operational leadership, and a strategic understanding of software and technology-driven growth businesses. Given how the new verticals, RazorpayX and

With minds like Arpit in our team we now have a full leadership team on board to introduce new growth initiatives

Capital have been making a dent, Arpit will be actively involved in recognizing new opportunities and solving for new age banking problems, ahead of time. With minds like Arpit in our team, we now have a full leadership team on board to introduce new growth initiatives,” he adjoins.

“Having been in financial services since my start, I think the sector is at its exciting best. Razorpay has had a significant role to play in the booming of this space. The team’s story of continuous innovation and disruption is commendable and it is currently one of the most looked upon FinTech companies. I am excited to be part of an organization which 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,” concludes Arpit Chug, CFO, Razorpay.

Razorpay has been charting an exponential growth since its inception. Currently the payments business forms 70 percent of Razorpay’s revenue and the neo-banking platform, Razorpay X along with Razorpay Capital forms the rest 30 percent. With a 500 percent growth in the last one year, the company has been witnessing a healthy growth rate of 35 percent month-on-month. Currently powering payments for over 800,000 businesses including the likes of Indigo, BSE, Thomas Cook, Reliance, SpiceJet, Aditya Birla, Sony and Oyo, the team plans to increase this to 1,400,000 by 2020. This neo-banking platform expects a four-fold growth in its volumes by the end of the next fiscal year.
Source : Press Release

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