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Bangalore, May 31, 2022: Open Financial Technologies Pvt. Ltd. has appointed Ex-Amazon Techie Vijay Sriram as the Vice President of Engineering.
Bangalore-headquartered Open Financial Technologies Pvt. Ltd. is committed to delivering a truly seamless business banking experience by focusing on providing neo-banking services to SMEs and startups. With time the company has become an end-to-end digital Fintech service provider. To further enhance its existing tech vertices, increase scalability and develop new products and offerings, Open sought an ideal tech leader for the team and the organization at large and partnered with Purple Quarter to find the right fit.
“Vijay’s appointment comes at an opportune time. As Open continues to move forward, I am confident that Vijay’s in-depth knowledge, domain expertise and driven ideas will support us in achieving our tech goals and help us scale in the next phase of growth. Purple Quarter has been a great partner in helping us find the right talent,” said Ajeesh Achuthan, Co-founder & CTO, Open Financial Technologies Pvt. Ltd.
In keeping with Open’s aggressive growth and the need for a suitable tech head to carry on the momentum, Open devised a custom approach to map for the technology mandate. Vijay with his extensive experience in various domains on the Product and Consumer Business side across Fintech, Machine Learning Systems and Databases fit the bill. Prior to his current role, Vijay was leading the Core Payment Instruments and Processing for Amazon Pay. With over 18+ years of experience. Vijay Sriram has in his previous stints also worked with big companies such as Oracle and HP.
On his appointment, Vijay Sriram shared, “I am thrilled to be a part of the dynamic team at Open. As the VP of Engineering, I will be working towards aligning technologies with the Open’s overall business goals and building and scaling up the existing Tech team and infrastructure as Open expands into new product verticals. A big thank you to the Purple Quarter team for their end-to-end assistance throughout the process. I had a great time working with the team.”
About Open Financial Technologies Pvt. Ltd
Founded in 2017, Open offers a neo-banking platform that integrates all the tools used by small businesses and integrates it with the business current account. Today the platform powers more than 2.3 million SMEs and processes over USD 30 billion in annualized transactions. The platform also adds over 100,000 SMEs every month, making it the fastest-growing SME-focused neo-banking platform globally. Open recently launched embedded finance platform Zwitch that enables fintech and non-fintech companies to launch digital banking services, and BankingStack, a financial OS for financial institutions to launch innovative digital banking solutions. In December 2021, Open acquired consumer neobanking platform Finin. Open raised its Series C funding 5 months back in October 2021 and has doubled its valuation with the current round.
Open is backed by leading global investors like IIFL, Temasek, Google, Visa, Tiger Global, Beenext, Recruit Strategic Partners, 3one4 Capital, Speedinvest, Tanglin Venture Partner Advisors, Angellist, Unicorn India Ventures, to name a few and has raised over USD190 million in funding to date.
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