Home Start-Up Amid pink slips all over, fintech companies a silver lining

Amid pink slips all over, fintech companies a silver lining

by Economic Times
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BENGALURU: As companies across the travel, hospitality, technology, and transport sectors continue to hand out pink slips to hundreds of employees, there may yet be a silver lining for jobseekers — fintech startups are hiring.

Payment and lending startups that ET spoke to have around 1,100 jobs opening up over the next year in product, design, engineering, business development, artificial intelligence and cybersecurity. According to a survey by PricewaterhouseCoopers, the need for fintech professionals will increase by 42% by the end of 2020.

Payment services provider PineLabs is looking to hire 150 sales executives with 1-4 years of experience. At Instamojo, plans are on for recruiting 130-150 people for critical roles in product and business, as the firm expects business to double, cofounder Akash Gehani said.

Y Combinator-backed Cashfree is looking to onboard 75 new employees by the end of this year, adding to its existing team of 130.

“We are looking to invest in our R&D efforts this year and new hires would be part of our growing engineering, product and design team. Other than R&D, we will be ramping up our regional presence by adding more talent in the merchant acquisition team across 4-5 major cities,” Cashfree cofounder Akash Sinha said.

PhonePe has 550 positions open across roles with a focus on engineering and technology profiles, Manmeet Sandhu, the chief people officer at the payment and digital wallet startup, told ET. The focus will be on onboarding senior profiles in technology, analytics and product, as well as in corporate functions like legal, finance and marketing.

“We hire talent from international technology and product companies, FMCG and consumer companies, and Indian technology startups,” Sandhu said.

Bengaluru-based consumer lending startup MoneyTap plans to hire 100 people across technology, operations, customer relations and marketing, with most of the hiring to be at the junior levels, cofounder Bala Parthasarathy said.

“The finance industry has typically always been people-driven, but now we will be relying more on technology as the fintech sector has seen an uptick in traction during the lockdown. So, we will need talent in data science and technology,” Parthasarathy told ET.

MobiKwik plans to hire 70-90 people over the next year, and is looking for engineers, technology leads, data scientists and engineering managers, cofounder Upasana Taku said. The fintech firm is focusing on building capabilities and growing the team where higher revenue growth potential exists, and new hires are expected to add value in terms of increasing revenue and optimising profitability.

“On the business front, we are looking for highly skilled and experienced folks for our financial services business unit in risk, finance, collections, product and business roles with relevant experience from banks, NBFCs and insurance companies. Specifically, for risk and engineering functions, we are looking for leaders at the highest level,” Taku told ET.

This Amid pink slips all over, fintech companies a silver lining was originally published on https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/amid-pink-slips-all-over-fintech-companies-a-silver-lining/articleshow/76228154.cms

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