Digital-payments enablement startup Cashfree Funds has has named Piyush Anchliya as its new Chief Monetary Officer, as the corporate seems to be to scale operations.
Anchliya brings over 15 years of expertise in funding banking, company finance, and M&A, having held senior roles at Barclays and the IDFC/Bandhan Group. Most not too long ago, he served because the CFO of Bandhan AMC (previously IDFC Asset Administration Firm). He holds an MBA from IIM Ahmedabad and a B.Tech. from IIT Kharagpur.
“That is an thrilling time to affix Cashfree Funds because it continues to drive innovation in India’s fintech area,” Anchliya stated in a press release. “I’m wanting ahead to advancing our strategic priorities, creating worth for our stakeholders, and contributing to our mission of delivering the perfect in funds to companies throughout the ecosystem.”
The appointment comes at a pivotal time for the Bengaluru-based firm, which processes $80 billion in annual funds for over 800,000 companies. In latest months, Cashfree secured three key regulatory licenses from the Reserve Financial institution of India: Cost Aggregator-Cost Gateway (PA-PG), Cost Aggregator-Cross Border (PA-CB), and Pay as you go Instrument (PPI) licenses. The corporate additionally raised $53 million in a spherical led by KRAFTON and Apis Development Fund II.
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CEO and co-founder Akash Sinha welcomed the brand new CFO, saying Anchliya’s “helpful expertise throughout monetary companies trade—might be key to scaling sustainably and strengthening our monetary basis.” He added, “We’re excited to have him on board as we proceed constructing the trusted monetary spine for companies of all sizes.”
Anchliya replaces outgoing CFO Vikas Guru, who performed a “pivotal position in Cashfree’s journey up to now,” in keeping with Sinha. Guru will stay concerned through the transition interval.
Based in 2015 and backed by Y Combinator, Apis Companions, and the State Financial institution of India, Cashfree has grown into a serious participant in India’s digital funds sector. The corporate’s product suite contains cost assortment instruments, payout companies, cross-border cost capabilities, and Safe ID, an AI-powered identification verification platform.
Edited by Jyoti Narayan
