Revolut kicks off Indian expansion with CEO hire

UK-based global FinTech company Revolut has appointed Paroma Chatterjee to the role of CEO of its Indian branch.

Established in 2015, $5.5bn-valued Revolut offers customers an alternative to traditional banking through its suite of digitally enabled products across banking and business accounts, foreign exchange transfers and remittances, investment and trading, insurance and cards and payments.

The addition of Chatterjee follows the company’s recent move into the Indian market. Revolut will make a multi-million-pound investment in the region over the next five years and will create around 300 new jobs.

Revolut’s move into the Indian market makes it one of the first UK FinTechs to reach the market, helping bolster trade between the two countries. The company has already launched in the US, Australia and Singapore and plans to boost its presence in South America and Asia Pacific going forward.

As CEO of Revolut India, Chatterjee will be responsible for developing, defining and implementing the company’s business strategy, team hires, management of licence applications and any potential acquisitions in the native market.

Chatterjee joins Revolut from Indian financial services company Lendingkart, where she served as chief business officer. She also held the role of chief business officer for, a travel, leisure and tourism company from Bangalore. Chatterjee is a renowned leader in the fintech and consumer tech sphere and was last year named as one of the Top 25 Women Leaders in Financial Technology of Asia.

Revolut CEO and founder Nik Storonsky 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 super-app.

“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.”

Chatterjee added, “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.”

Revolut may be about to hit decacorn status after it recently revealed it was eyeing a fundraising round that could value the company over the $10bn value mark.

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