Zafar Imam has been appointed as the new chief executive officer (CEO) of FinShell, a leading financial services brand that introduced smartphone-based financial services in India powering two platforms OPPO Kash and realme PaySa.

Imam is one of the co-founders of the company and was the chief business officer (CBO) and director in FinShell since April 2019.

In his new responsibility, Imam will spearhead the business growth and operations, taking charge of major business decisions, and initiating the brand’s next phase of growth.

Imam has two decades plus experience in consumer banking and FinTech space. He served at Axis Bank for more than 13 years and worked in different roles building the consumer finance business.

With Imam as the CBO, FinShell has witnessed exponential progress. The company has been able to launch five product lines within 12 months – personal loans, channel finance, mutual funds, UPI and Insurance and acquire ~250,000 users.   FinShell will continue to progress towards its goal of 10mn clients and becoming a leading fintech in India leveraging mobile as the main platform.

Speaking on his new role, Imam, CEO, FinShell, said, “I’ve been associated with FinShell from its inception and the journey so far has been very exciting. I am delighted to take this responsibility of Chief Executive Officer. Varun was an integral part of the company, and I wish him all the best for his future endeavors. I look forward to spur the next level of growth for the company and expand the brand’s footprint across India and for the brand to emerge as a leading digital fin-tech with minimum or no human intervention.”

Imam replaces Varun Sridhar, who was the former CEO at FinShell.

Speaking on the development, Varun Sridhar, former CEO, FinShell, said,  “It has been an absolute pleasure to lead FinShell and together, as a team, we have achieved a lot. I would like to thank the investors and the team for their dedication and all the work they have put in to make this journey a success. I will continue to celebrate the success of FinShell as a founding member. I am sure the company will grow exponentially under Zafar’s leadership’’