Suvidhaa Infoserve elevates Rahul Bhamburkar as CEO

Mumbai-based Suvidhaa Infoserve Pvt Ltd, a company that provides internet-based payment collection services for various industries, has elevated Rahul Bhamburkar as its new CEO, the company said in a release.

Bhamburkar succeeds Haresh Bathija who was CEO from October 2012. Bathija has moved on to explore other entrepreneurial opportunities.

Bhamburkar joined Suvidhaa Infoserve in 2011 and prior to this promotion, he was heading sales, marketing and operations.

"He has been with the company and understands the Suvidhaa business well. His vast experience across industries and with Suvidhaa will help the management team continue to grow the business," said Paresh Rajde, founder and chairman of Suvidhaa.

Prior to joining Suvidhaa, Bhamburkar was working with Godrej Sara Lee Ltd as a vice-president. He has also worked with companies like Hindustan Unilever Ltd, Castrol, Reliance Petroleum Ltd and Thermax India Ltd.

Bhamburkar obtained an M Tech degree in management studies from Indian Institute of Science, Bangalore. He also did B E (Mechanical Engineering) from Visvesvaraya National Institute of Technology, Nagpur.

Suvidhaa markets and distributes various services provided by different companies by allowing consumers to access and make payment through its franchisees. It appoints local neighbourhood stores, including grocery stores, medical stores, travel agents and cyber cafes, as its franchisees to distribute the services to consumers. The company was founded in 2007 by Paresh Rajde and currently employs over 200 people.

Suvidhaa's investors include Shapoorji Pallonji Mistry, Norwest Venture Partners, Reliance Venture Asset Management Ltd, IFC and Mitsui & Co., Ltd.

(Edited by Joby Puthuparampil Johnson)