Paisabazaar.com Brings on Board Jagmal Singh as CTO

Paisabazaar.com, India’s No. 1 marketplace for loans and cards, today announced the appointment of Jagmal Singh as its Chief Technology Officer. Jagmal, an alumni of IIT Delhi, has worked with D. E. Shaw & Co. for 5 years and has also been an entrepreneur. His last venture was acquired by Cardekho, where he was the Director of Technology before joining Paisabazaar.

Along with Jagmal Singh’s appointment, Paisabazaar.com also announced that Mukesh Sharma, who was looking after the organization’s mobile technology and strategic initiatives, has been promoted to Head of Engineering.

Naveen Kukreja, CEO & Co-founder, Paisabazaar.com, said, “One of the biggest factors that has made Paisabazaar.com a market leader in India’s online lending space has been our ability to work tirelessly in creating a seamless experience for our consumers, using technology and data. The challenge now is to take the Paisabazaar experience to the next level. Jagmal, with his expertise in cutting edge technology, will lead our tech innovation strategy. I am confident that he along with Mukesh, who has been the backbone of our technology team, will help in creating an unparalleled experience for our consumers.”

Paisabazaar.com said it has already begun experimenting through AI, Machine Learning and chatbots and are aiming to implement several ‘first in industry’ technologies on its platform.

Jagmal Singh, on his appointment, said, “As a keen follower of India’s fintech evolution, I have been aware of the truly innovative work done by Paisabazaar.com to become India’s biggest online lending platform. I am extremely excited to join the Paisabazaar team and look forward to develop and adapt new technologies to drive Paisabazaar’s growth further.”

About PaisaBazaar.com

Paisabazaar.com is India's largest online financial marketplace for loans and Credit Cards. It offers all a complete spectrum of lending and investment products for retail customers. Paisabazaar.com currently partners with more than 75 partners across lending and investment categories with 300+ products on offer. Since its inception in early 2014, the company has marked a staggering growth and now has over 33 million visitors coming to its website each year.

It is the only financial player to disburse loans worth Rs. 2500 crore worth in a financial year (2016-17). The company is targeting a 3X growth and aims to cross Rs. 6000 crore annualized disbursal run rate by the end of this financial year. It plans to touch annualized disbursal of Rs 25000 crore by 2020.

The portal has been conferred with Economic Times "Best BFSI Brand Award", Money Tech “Startup of the Year" and Money Tech “Best Customer Experience Innovation” in the last one year.  Apart from this, Paisabazaar.com has been recognized as an “Emerging Brand” at the prestigious CMO Asia Awards, as well as by Indian Brand Convention.

Paisabazaar is part of Policybazaar group, India's largest online insurance platform and is an InfoEdge (Naukri.com), Premji Invest,  Tiger Global Management, Temasek, Steadview Capital, Ribbit Capital and Inventus Capital Investee Company.