Amrish Rau tweeted on his microblogging site that it was ‘time to have another new experience’, without even disclosing his upcoming plans.
Amrish Rau, the head of PayU India’s fintech investments and partnerships, has put down his papers recently. He was the former chief of PayU India. In a series of tweets, Rau had said that it was ‘time to have another new experience’, without disclosing his upcoming plans.
Amrish had served as the head of Naspers-owned PayU’s domestic arm for around two and a half years. Immediately after selling CitrusPay, the homegrown payments company, Rau had stepped into the position. CitrusPay was cofounded by Rau, Jitendra Gupta, and Satyam Kothari for around $130 million to PayU in 2016.
This transaction was at a time when it was an all-cash deal, which is a rarity in the Indian startup ecosystem. They were also among the largest venture capital-backed fintech deals in India.
Rau, along with co-founder Gupta took over PayU India, which was valued at $2.5 billion. This was steered away from just a payment gateway into consumer credit while making strategic investments and acquisitions along.
Anirban Mukherjee, former Reliance Executive had replaced Rau as the CEO of PayU, after Rau had stepped down. Chances are that Rau had gone to oversee a broader role within the company, that would probably focus on fintech partnerships and investments.