Cashfree Payments expands its senior leadership team to achieve the next level of growth

Appoints Parveen Kumar as Vice President - Operations and Vijay Ravisekar as Vice President - Product Management

BENGALURU, India, June 14, 2023 /PRNewswire/ -- Cashfree Payments, India's leading payments and API banking solutions company has expanded its senior leadership team to drive the company's next phase of growth. Parveen Kumar has been appointed as Vice President - Operations, while Vijay Ravisekar has been appointed as Vice President - Product Management.

The appointments were announced by the company as it gears up for its next phase of growth. The changes in the leadership team are expected to help the company accelerate its innovation and  growth. The company has recently announced the elevation of Arun Tikoo as Chief Business Officer (CBO) and Ramkumar Venkatesan as Chief Technology Officer (CTO).

Praveen Kumar brings over 15 years of industry experience in enhancing customer experience, managing finances, and building operations across various sectors. He holds a B.Tech in Aerospace Engineering from the Indian Institute of Technology, Kharagpur, and a PGDM in strategy and operations from the Indian Institute of Management, Ahmedabad. In his new role, Parveen will oversee the operations and customer service vertical at Cashfree Payments. Parveen's responsibilities include expanding capabilities, driving research and innovation, and ensuring excellent customer service.

Vijay has over 20 years of experience in Product Management, having successfully managed products for the driver ecosystem and Customer Care. He holds a Bachelor's degree in Engineering from the University of Mumbai and an MS in Telecommunications Engineering from The University of Texas, Dallas. Vijay will assume the crucial role of formulating product strategies and offering valuable guidance to enhance products and solutions, specifically focusing on 'Collections'. His responsibilities include fostering greater agility and driving improved business outcomes.

Commenting on the appointment, Akash Sinha, Co-Founder & CEO, Cashfree Payments said, "I am thrilled to welcome Parveen and Vijay on board. Their proven ability to expand businesses, build exceptional teams, drive product innovation, and forge strong alliances will undoubtedly propel our company's growth and development with renewed enthusiasm. Cashfree Payments is currently in an incredibly exciting phase of its growth, positioning itself as a leader in the payments ecosystem. I am confident that Parveen and Vijay will play a vital role in our company's tremendous growth."

With over 50% market share among payment processors, Cashfree Payments today leads the way in bulk disbursals in India with its product Payouts. Recently, India's largest lender, SBI invested in Cashfree Payments underscoring the company's role in building a robust payments ecosystem. Cashfree Payments works closely with all leading banks to build the core payments and banking infrastructure that powers the company's products and is also integrated with major platforms such as Shopify, Wix, Paypal, Amazon Pay, Paytm and Google Pay. Apart from India, Cashfree Payments products are used in eight other countries including the USA, Canada and UAE.

About Cashfree Payments:

Cashfree Payments is a leading payment and API banking solutions company. It provides full-stack payment solutions enabling businesses in India to collect payments and make payouts via all available methods with simple integration. Cashfree Payments' offerings include an advanced and easy way to integrate payment gateways, a split payment solution for marketplaces, bank account verification API, Lending disbursals solution and Auto Collect -- a virtual account solution to match inbound payments to customers. Founded by IIIT Hyderabad alumnus Akash Sinha and IIT Kharagpur graduate Reeju Datta, www.cashfree.com is among the leading payment service providers in India processing transactions worth USD 40 Billion annually. It has leveraged technology to lead payment disbursals in India with more than 50% market share among payment processors. Cashfree Payments enables more than 3,00,000 businesses with payment collections, vendor payouts, wage payouts, bulk refunds, expense reimbursements, loyalty and rewards. Apart from India, Cashfree Payments products are used in eight other countries including the USA, Canada, and UAE. Cashfree Payments is backed by Silicon Valley investor Y Combinator, Apis Partners, State Bank of India (SBI), and was incubated by PayPal.

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