Ramesh Bafna has been named the new CFO of Zepto, a quick commerce platform. Previously, Bafna held the position of CFO at CoinSwitch Kuber, a cryptocurrency exchange, from June of the previous year.
Jitendra Nagpal, who joined the company in September 2021, will be replaced by Ramesh Bafna as the CFO by the middle of next month, as per reported by The Economic Times.
“To take Zepto public in two-three years, we believe we need an incredible CFO and Ramesh is the right person for the job,” said Aadit Palicha, co-founder and chief executive of Zepto.
Ramesh Bafna, who was previously the CFO at Myntra, an online fashion platform, and later at Zilingo, a Singapore-based business-to-business fashion startup, is joining Zepto at a time when many new-age companies across various sectors are seeking to reduce their expenses due to challenging macroeconomic conditions.
Amid the ongoing funding winter, quick commerce platforms, in particular, are aiming to reduce their cash burn and extend their runways.
On joining the Mumbai-based startup backed by Y Combinator’s Continuity Fund, Bafna said in a statement, “Zepto is reimagining consumer internet with depth, operating discipline, and a long-term sustainable model.”