Mswipe ropes in BFSI veteran Ketan Patel as CEO

Ketan Patel, a fintech and BFSI industry veteran with over two decades of experience, is set to take over as the chief executive officer (CEO) of Mumbai-based point-of-sale (POS) and digital payments enabler Mswipe. 

In the new role at the company, a statement said, Patel will drive a major strategic transformation by focusing on two key areas -- accelerating operational excellence to provide seamless digital payments and building value-added financial products for MSMEs, including credit facilities, insurance, among others.  

Meanwhile, Manish Patel, the founder and current CEO of Mswipe, will move into the role of managing director. 

“Ketan is a seasoned leader with a proven track record of delivering operational excellence, achieving revenue and profitability for our business,” Manish said on Ketan’s appointment.  

“I am a firm believer of constant evolution and adaptability and I am confident that Ketan will spearhead Mswipe on to an exciting, high-growth journey as Mswipe expands to provide credit and other financial services in addition to our core payments services to our customers,” he added. 

Prior to joining Mswipe, Ketan founded his own venture Ditya Finance and worked as the CEO and executive director of CASHe, a personal loan startup focused at salaried millennials. 

Before that, he spent 18 years at Kotak Mahindra Bank, heading some of its key portfolios ranging from private banking, wealth management, composite business solutions and e-commerce.  

He was also instrumental in setting up the private banking business for the Kotak Group in the UK. 

Commenting on his appointment, Ketan said, “Mswipe has been a market leader in transforming digital payments for MSMEs and is credited with bringing several industry-first innovations in the last 10 years. I am excited to be a part of the journey ahead that seeks to transform the financial services landscape for the smallest of businesses in India.” 

“We will continue building a superior financial platform for MSMEs that is built on the tenants of accessibility and affordability,” he added. 

Currently, Mswipe is the largest independent mobile POS merchant acquirer and network provider, with 6.75 lakh POS and 1.1 million QR merchants across the country. The company counts B Capital, UC-RNT, Falcon Edge Capital, Matrix Capital Partners, DSG Partners and Epiq Capital among its investors.