Home / Companies / News /  MobiKwik appointed PayPal India's Siddharth Dhamija as CEO of Zaakpay

MobiKwik on Friday said it has appointed Siddharth Dhamija as chief executive officer (CEO) of Zaakpay, its payment gateway arm. Dhamija brings 23 years of experience to the company. He was part of the founding team that launched PayPal’s domestic payments business. He also led the Enterprise Business at PayPal India. During his tenure in PayPal, the platform managed partnerships with global merchants present in India. Prior to PayPal, he was a part of the founding team at Razorpay as its chief growth officer. He has also worked with companies like Subex.

"We have seen 100% growth in FY20 thanks to our resilient and turbo-charged team. Digital Payments in India is exploding and we intend to capitalise on the opportunity to serve the payment needs of India's online businesses," MobiKwik co-founder and CEO Bipin Preet Singh said. Dhamija's appointment is a move towards strengthening the Payment Gateway (PG) business — Zaakpay, he added.

"Siddharth is tenacious in driving results and we are confident that he will aggressively grow the PG business by elevating our product, brand, team, and service. With an independent charter under Siddharth's leadership, we expect the Zaakpay Business to deliver multi-fold growth in revenue and strive to be the best payment gateway product in India," he added.

Zaakpay, a wholly-owned subsidiary of MobiKwik, had clocked 194 crore revenue (up from 103 crore in the financial year 2019) and 3 crore in profit in the financial year 2020.

MobiKwik is strengthening its leadership team ahead of its IPO campaign, and this is the second CXO appointment in the last three months, it said. In September, MobiKwik had announced the promotion of Chandan Joshi as the co-founder and CEO of its Payments business.

“In the past decade, we have seen a strong emergence of Fintech in India and within that the Payments ecosystem has grown multi-folds. Leveraging my learnings from Paypal & Razorpay, we will offer easy to integrate payment products and a highly reliable PG platform to our clients. I look forward to scaling up Zaakpay to new heights of success over the next few years," the newly appointed CEO of Zaakpay said.

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