Varun Sridhar, chief executive officer of Paytm Services, a subsidiary of One 97 Communications (Paytm), has stepped down. This comes just a year after Sridhar quit his role as CEO of Paytm Money, the wealthtech arm of the fintech major.
Leadership Shuffle at Paytm Money
- Sridhar served as CEO of Paytm Money until 2023.
- Rakesh Singh replaced him but later shifted to another role within Paytm.
- Recently, Sandiip Bharadwaj was appointed CEO of Paytm Money (July 2025).
Sridhar’s New Wealthtech Venture
Speaking to ET, Sridhar revealed plans to launch a startup in the wealthtech sector:
- To be based in Goa, where he currently resides.
- Focus on leveraging Gen AI to cut financial services costs.
- Still in the early stages, with details yet to be finalised.
“The Indian wealthtech opportunity is large, growing fast, and something I love doing. This is the perfect time to startup in this space,” Sridhar said.
Background & Industry Context
- Before Paytm, Sridhar spent 8 years at BNP Paribas, where he led the acquisition of Sharekhan.
- Joined Paytm Money in 2020, overseeing its expansion.
- As of June 2025, Paytm Money had ~724,000 active users (NSE data).
- In FY24, Paytm Money posted ₹195.7 crore in revenue and ₹71.6 crore net profit.
- However, rivals like Groww and Dhan grew much faster.
Key Takeaways
- Varun Sridhar resigns as Paytm Services CEO.
- Plans to build a wealthtech startup in Goa.
- Startup will explore Gen AI in financial services.
- Paytm Money continues to face tough competition from Groww & Dhan.
Disclaimer: This article is for informational purposes only and not investment advice.
