Payments provider Razorpay recently announced that it has appointed Arpit Chug as the CFO of the company. Chug an IIM Ahemdabad alumnus was earlier associated with American Express India as the CFO.
Razorpay has also acquired payroll management company Opfin.
In a media statement, Harshil Mathur, CEO and Co-founder of Razorpay, said, “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 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.”
Arpit Chug, Chief Financial Officer, Razorpay, in a media statement said, “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 at fin-tech companies. I am excited to be part of an organization that 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.”
Razorpay is also a part of a well-known Silicon Valley tech accelerator, Y Combinator. In June 2019, Razorpay had raised $75 million led by Ribbit Capital. The funding round saw participation from Sequoia Capital and existing backers New York-based Tiger Global Management.
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