Vijay Agicha, who served as the Chief Investment and Transformation Officer at Naspers-backed PayU, has resigned from his position, according to sources familiar with the matter.
Agicha is reportedly considering a move to an investment firm, where he is expected to focus on fintech investments.
A string of leadership departures at PayU in recent months
His exit follows a string of leadership departures at PayU in recent months. Earlier this year, Suresh Rajagopalan, former CEO of PayU-owned Wibmo, which provides authentication services for digital payments, also left the organization.
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“Vijay has been a driving force behind four major acquisitions and has contributed significantly to shaping a robust fintech ecosystem through strategic minority investments during his tenure. As he moves on from PayU, we extend our best wishes for his future endeavors,” said a PayU spokesperson.
PayU seeing a big leadership change
PayU has been undergoing significant leadership changes since selling its global operations to Israeli fintech provider Rapyd in August 2023.
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In September 2023, PayU’s longtime Global CEO Laurent Le Moal stepped back from his operational role, transitioning to an advisory position for Prosus and PayU. Around the same time, Global CFO Akash Moondhra and PayU Finance CEO Prashanth Ranganathan also left the company.
These changes came amid broader shifts at Prosus and its parent company Naspers. Bob van Dijk, who had served as CEO of both entities for a decade, announced his departure in September 2023. He was succeeded by Fabricio Bloisi in March 2024.
