Agicha is speculated to transition to an investment firm where he will focus on fintech investments
Agicha’s resignation follows a series of high-profile exits, including Suresh Rajagopalan, the former CEO of PauU’s subsidiary Wibmo
On the financial front, PayU India’s revenue grew 11% year-on-year (YoY) to $444 Mn in FY24
PayU’s chief investment and transformation officer Vijay Agicha has resigned from his position,
This marks the end of his seven-year stint with the payments solutions major since 2017.
“Agicha has played an instrumental role in driving four meaningful acquisitions and building a thoughtful Fintech ecosystem via several minority investments during his long stint with the organisation. As he concludes his leadership journey at PayU, we wish him continued success,” a PayU spokesperson told Inc42.
Agicha is speculated to transition to an investment firm where he will focus on fintech investments. Under his leadership, PayU has been actively expanding its fintech capabilities in India. He also serves on the boards of companies like BriskPe, DotPe and Fisdom.
His departure comes amid significant leadership changes within the company, particularly following the sale of PayU’s global operations to Israel-based fintech provider Rapyd in August 2023.
Agicha’s resignation follows a series of high-profile exits, including Suresh Rajagopalan, the former CEO of PauU’s subsidiary Wibmo. This trend has been notable since PayU’s global CEO Laurent Le Moal stepped back from day-to-day operations in September 2023, while Anirban Mukherjee was appointed as his successor in October 2023.
Other exits included former global CFO Akash Moondhra and CEO of PayU Finance Prashanth Ranganathan.
Among other notable developments in recent times, VC firm Prosus said in November that it is eyeing a listing for PayU in India in 2025. Earlier in October, it was reported that PayU has finalised Goldman Sachs as one of the lead bankers to helm the public issue.
PayU, which was founded by Nitin Gupta, Shailaz Nag Jose Velez, Martin Schrimpff, Arjan Bakker, and Grzegorz Brochocki in 2002, is owned by Prosus’ Nasper Group. Its Indian subsidiary, PayU India, was launched in 2011, with Nitin Gupta and Shailaz Nag as its cofounders.
Besides India, it provides payment and financial services across Latin America, Southeast Asia, Central and Eastern Europe and Africa.
On the financial front, PayU India’s revenue grew 11% year-on-year (YoY) to $444 Mn in FY24