India’s only listed fintech firm, 5paisa.com today said that it has appointed former CTO of Flipkart Mr Ravi Garikipati as an additional non-executive and independent director on its board as it aims to consolidate its position as India’s leading digital investing marketplace.
Mr Garikipati is an entrepreneur and technologist with over 30 years of experience mostly in technology and executive leadership roles. He was the co-founder of a fintech startup Davinta FinServ, focussing on Financial Inclusion for the bottom of the pyramid. Prior to co-founding Davinta, as CTO of Flipkart, he defined and executed technology vision and roadmap to transform commerce.
Commenting on the appointment Mr Prakarsh Gagdani, CEO, 5paisa.com said, “I am extremely delighted to have Mr. Ravi Garikipati on board. His vast experience in managing large e-commerce companies and deep knowledge of advanced tech will add immense value to our company”.
Commenting on his appointment Mr Ravi Garikipati said “ I am pleased to be part of 5Paisa board. I look forward to working with Prakarsh and his leadership team as they leverage technology to revolutionize digital investing for the underserved”
Mr Garikipati is a board member and advisor to many late stage startups and an active angel investor in deepTech, finTech and consumerTech startups. He has masters in both software engineering and management from Birla Institute of Technology and Science, Pilani.
5paisa.com is one of India’s most popular investing platform and nearing 1 million customers. It offers equity investing at zero brokerage, mutual funds, insurance, and loans among others on its platform. The Covid19-led lockdown has seen unprecedented customer addition helped by improved technology, internet access and availability of high-quality and affordable platforms like 5paisa.com. This has catapulted 5paisa.com to be among the top Fintechs in the country. 5paisa.com turned profitable in the quarter ending June 30 after 17 quarters in operation making it one of the fastest in the Fintechs space to achieve this.