MobiKwik appoints banking veteran Mukul Saxena as CEO of financial services

Mukul Saxena (Photo: MobiKwik)

Fintech firm MobiKwik on September 16 appointed banking veteran Mukul Saxena as the chief executive officer (CEO) of its financial services and payment gateway Zaakpay's business units.

Saxena was executive vice-President and head of the payments business at IndusInd Bank Ltd. In his over a decade-long tenure at the private sector lender, Saxena headed the payments product and business team with P&L ownership for all cards and payments businesses, including debit cards, prepaid cards and merchant acquisition.

“We are delighted to welcome Mukul to the MobiKwik family and are confident that he will lead the Financial Services and Payment Gateway businesses to new heights,” MobiKwik co-founder, managing director and CEO Bipin Preet Singh said.

“His experience in the fintech industry is unparalleled... Mukul joins us at a very strategic time; he has a flair for connecting the dots and seeing the big picture, allowing us to move exponentially towards our long-term objective of transforming into a full-service neobank.”

In his new role, Saxena is expected to help the company scale its financial services and payment gateway businesses, the fintech startup said.

With over two decades of experience in digital payments and fintech, Saxena has "extensive knowledge and expertise in new-age payment methods such as UPI, Wallet, Aadhar Pay and Cards, and has been recognized among the 'Top 50 Payments Professionals of India'," MobiKwik said in a statement.

Mobikwik offers payment, credit and investment products to around 127 million users and 3.7 million merchants.

Having achieved profitability in the last two quarters, the company is looking to expand its leadership team, it said.

The company ended the financial year 2022 with Rs 540 crore in revenue, recording 80 percent YoY growth, it stated.