Paytm Money MD and CEO Pravin Jadhav quits: Report

Pravin Jadhav, managing director and CEO of Paym Money, has resigned from the company.

Jadhav put in his papers last week and is likely to be relieved by the end of April, Entrackr reported citing sources.

According to the report, Jadhav was facing differences with the board over ESOPs (Employee Stock Ownership Plan) and remuneration.

Paytm Money, the wealth management arm of digital payments company Paytm, had promoted Jadhav as MD and CEO in September 2019. 

Paytm has declined to comment to queries sent by TechCircle.

Prior to Paytm, Jadhav was the founder and chief executive officer of social wishlist startup Wishberg. After it shut shop in 2014, he joined digital recharge platform FreeCharge as head of growth before leaving in June 2016. His career also includes stints at news and shopping portal Rediff.com and device management platform Servify.

Bengaluru-headquartered Paytm Money was launched in January 2018 to build investment and wealth management products for its users. It was reportedly planning to raise as much as $1.2 billion in a funding round in June 2019. 

In February 2019, the company appointed Suresh Vasudevan as its chief technology officer.