PayU's Chief Investment Officer Vijay Agicha Steps Down After Seven-Year Stint

Vijay Agicha, PayU's Chief Investment and Transformation Officer, has resigned from his position, marking the end of his seven-year tenure with the payments solutions company since joining in 2017.

A PayU spokesperson stated, "Agicha has played a pivotal role in driving four key acquisitions and contributing to the growth of a robust fintech ecosystem through several minority investments. As he concludes his leadership journey with PayU, we wish him continued success."

Agicha is speculated to transition to an investment firm, focusing on fintech investments. Under his leadership, PayU expanded its fintech capabilities in India, and he also served on the boards of companies like BriskPe, DotPe, and Fisdom.

His resignation comes amid significant leadership shifts within PayU, particularly following the sale of its global operations to Israeli fintech provider Rapyd in August 2023. This move follows a series of high-profile departures including that of Suresh Rajagopalan former CEO of PayU subsidiary Wibmo. 

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Leadership changes intensified after Laurent Le Moal, PayU’s global CEO, stepped back from daily operations in September 2023, with Anirban Mukherjee taking over as his successor in October 2023. Other exits include former global CFO Akash Moondhra and PayU Finance CEO Prashanth Ranganathan.

In other recent developments, venture capital firm Prosus announced in November that it plans to list PayU in India by 2025. PayU has also appointed Goldman Sachs as one of the lead bankers for the public issue, expected to take place in the coming years.

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Founded in 2002 by Nitin Gupta, Shailaz Nag, Jose Velez, Martin Schrimpff, Arjan Bakker, and Grzegorz Brochocki, PayU is owned by Prosus' Naspers Group. 

Its Indian subsidiary, PayU India, launched in 2011, was co-founded by Nitin Gupta and Shailaz Nag. PayU provides payment and financial services not only in India but also across regions including Latin America, Southeast Asia, Central and Eastern Europe, and Africa.

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