MUMBAI: Paytm Money - India's largest online platform for mutual fund investments and the wholly-owned subsidiary of One97 Communications that owns & operates Paytm, announced that it has promoted Pravin Jadhav, currently its Whole-time Director to Managing Director & Chief Executive Officer.

Paytm founder and CEO Vijay Shekhar Sharma said, "In last one year, under Pravin's leadership, the team at Paytm Money has built an entire organisation, product, and business grounds up. As a true entrepreneur, Praveen has made Paytm Money from an idea to India's largest mutual fund investment platform today. As our business expands in Stock Broking, NPS, and other investment products, I am very proud that Pravin will lead the company as its Managing Director & CEO."

An ex-entrepreneur himself, Pravin is well recognized and followed in the Indian internet & startup domain as a product & growth leader. With near two decades of professional experience, prior starting with Paytm Money he served as the Chief Product and Growth Officer at Servify; earlier he led Product Management for e-commerce & mobile at Rediff.com, and was Founder & CEO of Wishberg.

Paytm Money MD and CEO Pravin Jadhav said, "Everyday we continue to build Paytm Money to manage user's trust. It has been an exciting journey so far with Paytm Money and I am looking forward to the massive opportunity that lies in front of us to make investments more simpler, transparent and accessible to millions of Indians."

The company now has over 3 Million users on its investment platform and is the single largest contributor of SIPs to the mutual funds' industry, also contributes to about 40% of all SIPs registered in Direct Mode. Paytm Money aims to invest INR 250 Crores over the next 18-24 months as it is expected to launch new businesses including Stock Broking, NPS and more in this financial year.