Former Paytm exec Varun Sridhar joins Aspora as CEO

Varun Sridhar, who left Paytm Services (part of One 97 Communications) earlier this year, has joined Aspora, a fintech platform for the Indian diaspora, he announced on social media on Thursday.

Sridhar said he will become the CEO of Aspora’s wealth and lending business.

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“I was impressed to see the traction with NRIs in the remittances space and solid investors supporting tAsporahis vision Sequoia Capital, Greylock Partners, Hummingbird Ventures,” Sridhar wrote.

Aspora is backed by Y Combinator, Soma Capital and Global Founders Capital. The company currently operates in the US, the UK, the UAE, Germany, Italy and Ireland, and plans to expand to Saudi Arabia, France, Spain, the Netherlands, Canada and Singapore.

“Varun's experience in scaling fintech platforms and his deep understanding of cross-border financial needs make him an invaluable addition to our leadership team. As we continue expanding beyond the UK, UAE, and US markets, his expertise will be instrumental in delivering the banking infrastructure our community deserves,” said Aspora founder and CEO Parth Garg.

Sridhar resigned as CEO of Paytm Services in August, a year after stepping down as CEO of Paytm Money, the wealth-tech arm of the company. He had told at the time that he was planning to build a wealth-tech startup in Goa, though the idea and how to create real value for investors and traders was still being worked out.

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Before joining Paytm Money, Sridhar was a senior executive at French banking giant BNP Paribas, where he led the acquisition and integration of the digital stock broker Sharekhan. He worked there for nearly eight years before moving to Paytm Money in 2020.

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