Revolut announces expansion into India
UK-based global fintech Revolut, valued at $5.5bn last year, has announced the appointment of Paroma Chatterjee as its CEO in India, as the company continues to expand globally.
Prior to joining Revolut, Ms Chatterjee held senior executive roles at Lendingkart, Via.com, Flipkart and Airtel Money. She is a renowned leader in the fintech and consumer tech industry and was named as one of the Top 25 Women Leaders in Financial Technology of Asia for 2020.
As the leader of the executive team in India, Ms Chatterjee will build and lead Revolut’s subsidiary in India, define and implement the business strategy, hire the team and manage licence applications and any potential acquisitions in the market.
Revolut is making a multi-million pound investment in India over the next five years and has committed to the creation of 300 new jobs in the country to serve its global business operations. Revolut has recruited Heads of Operations and Legal for the country and is leveraging India’s strong talent pool to recruit across multiple functions including HR, Finance, Growth, Marketing, Recruitment, Compliance, Risk and Technology. The Revolut India subsidiary will also serve as an operations hub for Revolut’s global business, reflecting the skills and talent available in the Indian market.
Globally, Revolut has established itself as an innovative alternative to traditional banking products through its suite of digitally-enabled products across banking and business accounts, cards and payments, foreign exchange transfers and remittances, investments and trading, insurance and other financial services.
Revolut India will look to introduce those products in the country that will help Indians to significantly improve the experience that we currently face in accessing and managing our personal finances.
Nik Storonsky, CEO and Founder at Revolut, said: “With a wealth of experience in the fintech and consumer tech sectors and an outstanding track record, Paroma is an excellent fit for the role and her appointment is a major achievement in our continued mission to become the world’s first truly global financial superapp. We’re looking forward to transforming the way people in India access and manage their money as we bring our products and services to more people around the world.
“India is a core market in our expansion strategy with a huge supply of talent, and we’re excited to tap into that talent pool to help Revolut go from strength to strength.”
Paroma Chatterjee, CEO India at Revolut, said: “I couldn’t be more excited to join Revolut and become a part of this phenomenal growth journey. It is an honour and a privilege to be asked to lead the business for such a world-class company, in a country that presents one of the largest opportunities globally for Revolut. I look forward to building an exceptionally talented team and working with them, as we continue to develop superlative financial solutions for millions of consumers in India. We will build the bank of the future.”