MobiKwik appoints Siddharth Dhamija as CEO of Zaakpay

With an independent charter under Siddharths leadership, we expect the Zaakpay Business to deliver multi-fold growth in revenue and strive to be the best payment gateway product in India, he said.Zaakpay, a wholly-owned subsidiary of MobiKwik, had clocked Rs 194 crore revenue up from Rs 103 crore in the financial year 2019 and Rs 3 crore in profit in the financial year 2020.

Fintech major MobiKwik on Thursday said it has appointed Siddharth Dhamija as chief executive officer (CEO) of Zaakpay, its payment gateway arm. Dhamija has 23 years of experience with five years in the payments industry. In his most recent role, he led the Enterprise Business at PayPal India and was part of the founding team that launched PayPal's Domestic Payments business, a statement said.

Prior to PayPal, Dhamija was a part of the founding team at Razorpay as its Chief Growth Officer and has also worked with companies like Subex. ''We have seen 100 per cent growth in FY20 thanks to our resilient and turbo-charged team. Digital Payments in India is exploding and we intend to capitalise on the opportunity to serve the payment needs of India's online businesses,'' MobiKwik co-founder and CEO Bipin Preet Singh said.

Dhamija's appointment is a move towards strengthening the Payment Gateway (PG) business - Zaakpay, he added. ''Siddharth is tenacious in driving results and we are confident that he will aggressively grow the PG business by elevating our product, brand, team, and service. With an independent charter under Siddharth's leadership, we expect the Zaakpay Business to deliver multi-fold growth in revenue and strive to be the best payment gateway product in India,'' he said.

Zaakpay, a wholly-owned subsidiary of MobiKwik, had clocked Rs 194 crore revenue (up from Rs 103 crore in the financial year 2019) and Rs 3 crore in profit in the financial year 2020. MobiKwik is strengthening its leadership team ahead of its IPO campaign, and this is the second CXO appointment in the last three months, it said.

In September, MobiKwik had announced the promotion of Chandan Joshi as the co-founder and CEO of its Payments business. ''In the past decade, we have seen a strong emergence of Fintech in India and within that, the Payments ecosystem has grown multi-folds. Leveraging my learnings from Paypal and Razorpay, we will offer easy to integrate payment products and a highly reliable PG platform to our clients,'' Dhamija said.