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MUMBAI: BharatPe on Thursday appointed Nehul Malhotra as head of its consumer lending division and said he will work closely with chief executive Suhail Sameer to scale up consumer-focused lending products at BharatPe.

Malhotra’s appointment is the fifth senior level appointment for BharatPe in the year 2021. He is a seasoned leader with diverse experience across industries- including fintech, leadership advisory and search, and consulting. Prior to joining BharatPe, he was executive director at Russell Reynolds Associates and has an in-depth understanding of fintech, having spent 4.5 years at Paytm, it said.

During his stint at Paytm, Malhotra held multiple roles including head of customer service, head of payments merchant management and head of seller onboarding for Paytm Mall.

Ashneer Grover, co-founder and managing director, BharatPe said the company’s next focus area is consumer credit.

“Malhotra will drive BharatPe’s buy now pay later offering to be launched in October and also strategize on how to evolve PAYBACK into a consumer lending product from a consumer loyalty one today. We continue to hire aggressively to grow our business and Nehul will be a valuable addition to the CXO group," said Grover.

According to Malhotra, fintech is a fast-evolving industry that is rewriting the rules of banking and financial services in the country.

“In just three years, BharatPe has emerged as a pioneer in India’s fintech industry. It has been one of the flagbearers of UPI adoption in the country and has also emerged as the trusted partner for millions of offline merchants and kirana store owners in the country. If we look at consumer fintech- it has undergone a huge transformation, owing to events like demonetization and the pandemic last year," said Malhotra.

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