In a move to take on the competition with focus on expansion, the digital payments platform Mswipe Technologies has announced slew of administrative changes at the top. According to the company, the appointments of key senior executives will bolster the company's business and digital partnership teams.
Among the top appointments, Mswipe has named Rohit Agrawal, CEO of MCapital as the CFO for Mswipe Technologies in addition to his current role. MCapital is the lending arm and a fully owned subsidiary of Mswipe Technologies and provides unsecured loans to merchants.
“Agrawal will spearhead the expansion of their core payments business by building a merchant financing and small loans vertical through Mcapital,” the company said.
In his new role Agarwal will also focus on the creation of new credit products for small and medium enterprises and accelerate the existing business of providing small merchants with quick and easy access to formal credit. He has 16 years of experience in corporate banking and specialises in e-commerce and new-age business. In his previous stint, he was associated with Kotak Mahindra Bank.
Further Nayantara Bhargava is named the head of the banking and digital partnership. In her current role, she will focus on strengthening relationships with banks and brands and provide them with payment solutions for merchants, enabling the expansion of the payment digital footprint across the country. Prior to this, she was with CASHe and has also worked with Kotak Mahindra Bank in the wholesale banking division.
The digital payments major has appointed Sachin Shettigar as the chief risk officer for Mswipe Technologies. He will be looking into the risk and compliance adherence at the time of merchant boarding and transaction monitoring. In his previous stint, he was with Axis Bank. Yogesh Verma has been appointed as the chief business officer at MCapital. He will be responsible for scaling the lending business by engaging with more merchant partners and going more granular while expanding the existing business. Prior to this, he was heading MQR, BNPL and distribution channel business for Mswipe Technologies.
“These leadership announcements are a strategic step to build our company's transformational journey. Our aim is to enable digitisation of merchants across India in this dynamic digital payment space and ensure we can support their fast-changing needs,” sai Ketan Patel, CEO at Mswipe Technologies.
The company's investors include B Capital, UC-RNT, 94576 97384, Matrix Capital Partners, DSG Partners and Epiq Capital.