Sridhar said he will take office as the CEO of the wealth and lending business at Aspora.
“I was impressed to see the traction with NRIs in the remittances space and solid investors supporting this vision Sequoia Capital, Greylock Partners, Hummingbird Ventures,” Sridhar wrote.
Aspora is also backed by Y Combinator, Soma Capital and Global Founders Capital. The company is present in the US, the UK, the UAE, Germany, Italy and Ireland, with plans to expand operations to Saudi Arabia, France, Spain, Netherland, Canada and Singapore.
“Varun’s experience in scaling fintech platforms and his deep understanding of cross-border financial needs make him an invaluable addition to our leadership team. As we continue expanding beyond the UK, UAE, and US markets, his expertise will be instrumental in delivering the banking infrastructure our community deserves,” said Aspora founder and CEO Parth Garg.
Sridhar resigned as chief executive officer of Paytm Services in August, a year after he leaving his role as the CEO of Paytm Money, the wealthtech arm of the fintech major. He had told ET back then that he is planning a wealthtech startup based in Goa, though the idea and how to bring real value to investors and traders is still a work in progress.
Prior to Paytm Money, Sridhar was a senior executive at French banking major BNP Paribas, where he led the acquisition and integration of digital stock broker Sharekhan into the banking giant. He had spent close to eight years there before joining Paytm Money in 2020.