Cashfree, a payments and banking technology company, aims to hire over 175 people by December, 2021 owing to the growth it is witnessing.
The Bengaluru-based payment gateway startup has hired more than 130 employees this year taking the employee strength of the company to 225.
A statement made by the company states – “Cashfree has strengthened its workforce to over 225 employees this year, having digitally onboarded over 130 new hires this year, as the e-commerce and digital payments sectors witness a boost amid the coronavirus pandemic.”
“The spree was further accelerated during the global crisis, filling in crucial leadership ranks, including at the director levels across the engineering, product management, human resources and growth teams. Cashfree will continue to expand its workforce as online payments become more entrenched, aiming to cross a headcount of 300 by March 2021, and 400 by December 2021, while staying on schedule with appraisals, bonuses and promotions for the current team,” it stated.
Digital payments are expected to grow by 10x in the next 2-3 years, claims Akash Sinha, CEO and co-founder of Cashfree.
“With the recent surge in online transactions in India to unprecedented levels, we are actively developing innovations and creating products that enable businesses to process digital payments at scale. In tandem with rising e-commerce penetration and widespread digital payments adoption, the company has a three-pronged approach of partnerships, new products and geographic expansions. We are investing in skilled and talented individuals who will drive innovation and build a seamless payments ecosystem for businesses, merchants and customers that are thinking digital,” Sinha said.
To help the current team stay motivated and productive during these unprecedented times, the company is also continuing with merit-based appraisals and performance bonuses, according to the statement.
Backed by Apis Partners, Smilegate Investments, and Y Combinator, the firm is incubated by PayPal. In November, it has raised $35.3 million in its series B funding round.
-AK
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.