PayNearby, India’s leading branchless banking and digital payments network, announced that Vikas Jalan has joined its executive team as the Chief Financial Officer. Vikas brings to the team demonstrated excellence in formulating and implementing financial initiatives to achieve business goals. He comes with deep financial experience pertaining to private equity, M&A and corporate strategy to propel PayNearby into its next phase of growth and drive the cause of financial and digital empowerment of all citizens of the country.
“With an illustrious career spanning over two decades Vikas joins PayNearby from Omniactive Health and Lupin Limited amongst others. Vikas has worked across various industries including, financial services, automotive, and healthcare where he helped build a world-class strategic organization by driving company strategy and expansion initiatives. He is highly skilled in profitability improvement, cash flow, treasury, partnership management, and risk management. Along with this, his various core functional competencies include financial planning & analysis, operational finance, business process re-engineering, post-merger integration and due diligence, among others. At PayNearby, Vikas will be responsible for scaling the business and overseeing the direction, planning and implementation of all financial functions as the company looks to supercharge its growth in the coming years. In addition, he will also be steering the business development while advising the company on product development, corporate development and expansion strategies.”
Speaking on the appointment, Anand Kumar Bajaj, Founder, MD & CEO, PayNearby, said, “I am thrilled to welcome Vikas into the PayNearby family. Vikas will be a key player in aiding PayNearby’s growth trajectory and achieving our revenue targets while gaining more reach at the last mile. Vikas shares a deep passion for our mission and has demonstrated a strong track record of transitioning fast-growing companies to full scale, which will be crucial as we enter the next phase of our journey to make India a digitally and financially empowered nation. We have an ambitious and aggressive growth plan in the coming months, and he is the right fit to make the right impact and fuel our continued success as an industry leader. Vikas is a great addition to PayNearby’s future initiatives, and we look forward to achieving more with his expertise.”
Incepted in April 2016, PayNearby is a DPIIT-certified company and India’s leading branchless banking and digital payments network. PayNearby operates on a B2B2C model, where it partners with neighbourhood retail stores and enables them with the tools to provide digital and financial services to local communities. PayNearby’s mission is to make financial services available to everyone, everywhere. The company aims to simplify high-end technology so that it can be easily assimilated at the last mile while transforming the lives of its retail partners and customers.
Today, PayNearby, through its tech-led DaaS (Distribution as a Service) network, serves 75% of India and is enabling services like cash withdrawal, remittance, Aadhaar Banking, bill payment and recharges, savings, travel, digital payments, insurance and more. Currently, PayNearby’s 41+ microentrepreneurs across 17,600+ PIN codes assist 20+ crore customers across the country to the tune of more than ~6000 crores GTV per month.
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- Source – Press Release
- Published Date – December 14, 2021