What made Vikas Purohit part ways with Paytm?

Purohit who joined Paytm in December 2015 was looking after the business correspondent network for Paytm's upcoming payment banks.
Vikas Purohit

While the eCommerce players are pouring in whopping amount of funds in a bid to drive sales and create consumer engagement, it seems their employees have some other ways to follow. Till now only eRetail majors Flipkart and Snapdeal were creating headlines due to senior level exits, Paytm has joined the league with its Senior Vice-President Vikas Purohit bidding adieu.

It is being said that Purohit has quit the Noida based eRetailer to start his own start-up with another Paytm employee and ex McKinsey executive Apoorv Gautam to start a digital customer experience firm.

Purohit who joined Paytm in December 2015 was looking after the business correspondent network for Paytm's upcoming payment banks for which the country's biggest mobile wallet company received Reserve Bank of India license, allowing it to open bank accounts and accept deposits of up to Rs 1 lakh per consumer, issue debit cards and provide net banking services.

It is speculated that there are three co-founders, but Purohit is tightlipped to give in details of the third person as the person is yet to officially join the company. The start-up which would be based out of Delhi-NCR region will see Paytm's founder Vijay Shekhar Sharma act as a mentor to the new company.

This is the second high profile exit at Paytm's payments bank after Amit Lakhotia, Vice President of payments, who had quit to take a break and pursue other interests.

The resignation also coincides with other high profile exits in e-commerce including Anand Chandrasekaran, Chief Product Officer at Snapdeal who resigned within a year of joining the eRetailer. His counterpart from Silicon Valley, Punit Soni who joined the rival eCommerce company Flipkart, also resigned from his position of Chief Technology Officer within a year in his role.

Further, Myntra's co-founder Mukesh Bansal and Flipkart's chief business officer Ankit Nagori also quit this year to start their own ventures. 

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