Jitendra Gupta, managing director of PayU India has stepped down from his position in a view to start his own venture, cited ET. Gupta has been leading the digital payments company credit business. According to the sources, he is likely to start his own venture later this year.
Pallav Jain, country head of PayU Finance, which was formerly known as LazyPay, is expected to take over from Gupta.
“It (Gupta’s new venture) is likely to be in the fintech space, but I am still doing my research as to which segment makes more sense, and am currently testing out some ideas,” Gupta said.
“PayU has been incredibly supportive, and I expect to continue engaging with them, going forward,” he added.
PayU is a fintech-based digital payments startup, emerging from Netherlands, founded in 2002 by group of people. It provides payment technology to online merchants. Also, it allows online businesses to accept and process payments through payment methods that can be integrated with web and mobile applications.
While, Gupta co-founded Mumbai-based Citrus Pay, which was acquired by the Naspers-owned company PayU in a $130 million all-cash deal.
Besides, other major players in the digital lending space includes Lendingkart, MoneyTap, LenDenClub, Faircent, among others.