PayU India names Maneesh Goel as CFO

Naspers-backed PayU India has appointed former CEO of Den Snapdeal TV-Shop Maneesh Goel as chief financial officer, it said in a statement.

Previously, Goel has also served a CFO of iDiscoveri Education Pvt Ltd and Getit Infoservices Pvt Ltd (Askme.com).

"His expertise in strategic planning, working capital and funds management, M&A activities and establishing automated systems are going to work in the favour of PayU India," said B Amrish Rau, CEO of PayU India.

In his new role, Goel will be reporting to Aakash Moondhra, CFO of PayU Global. Moondhra was CFO of ecommerce company Snapdeal prior to joining PayU.

PayU hired former Bharti Airtel executive Sachin Singhal as head of consumer business in May this year. Recently, PayU and Citrus Pay merged in a $130 million deal. As part of the deal, the combined entity also witnessed management restructuring under which PayU co-founder and chief executive Nitin Gupta had decided to leave the firm. Citrus Pay's managing director Amrish Rau took over as chief executive of the merged entity while its founder Jitendra Gupta joined as managing director.

In October, Gurpreet Singh, vice president and head of finance at PayU India, quit the digital payments firm to join HCL Technologies.

A week before this exit, Abhishek Tripathi, associate director and business head at PayU, announced his decision to quit the firm to lead the small- and medium-sized business (SMB) vertical of Airtel Payments Bank (formerly known as Airtel M-Commerce Services Ltd).

In July, PayU's digital marketing head Saranjeet Singh joined Airtel Payments Bank in the similar role. PayU operates in India and 16 other emerging economies across Latin America, Europe, Asia and Africa with over 160,000 merchants on its platform. PayU was started in 2011 as a unit of Gurgaon-based Ibibo Group, which is controlled by Naspers Group.