Tata Digital, which owns and operates Tata Neu, has onboarded Mukul Saxena as its chief business officer (CBO).
Tata Digital is the ecommerce arm of the Mumbai-based salt-to-aviation conglomerate, which houses digital companies like e-grocery firm BigBasket and online pharmacy 1mg, besides the group’s digital offerings like Tata Cliq and Croma.
Mukul Saxena joins Tata Digital from Mobikwik
Before joining Tata Digital, Mukul Saxena worked at Indian fintech firm Mobikwik as its CEO of Financial Services & ZaakPay. He has also led several senior leadership roles in IndusInd Bank, SABB (HSBC, Saudi Arabia), ABN AMRO, J. Walter Thompson, and Solutions Integrated Marketing Services.
Talking about his educational background, Mukul is an alumnus of the Institute of Management Technology, Ghaziabad and the National Institute of Information Technology.
At Tata Digital, He will be responsible for leading the Product, P&L, and new initiatives in the fintech business of the company, according to the company.
How well Tata Digital is performing financially?
Tata Digital, which launched Tata Neu in 2022, has seen a significant increase in its revenue for FY23, reaching Rs 204.35 crore, a thirteen-fold increase from the previous year, according to Tata Sons’ annual report.
However, it also experienced a loss of Rs 1,370 crore on a standalone basis, a 23% increase from FY22. When considering consolidated levels, the revenue for Tata Digital was reported at Rs 15,979 crore in FY22, a rise from Rs 5,315 crore in FY21.
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