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Driving Fintech Evolution: The Visionaries Behind PayU’s Success

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In the dynamic realm of fintech, where the choice between building capabilities and strategic acquisitions is a perpetual challenge, PayU, under the leadership of visionaries Vijay Agicha, Prashanth Ranganathan, and Anirban Mukherjee, has emerged as a trailblazer. The company’s “Buy, Build, Repeat” playbook has not only accelerated its operations in India but has also positioned PayU as a formidable player in the country’s flourishing fintech ecosystem.

As the Global Head of Strategy and Growth at PayU India, Vijay Agicha has played a pivotal role in shaping the company’s global strategy. Focused on achieving scale without compromising profitability, Agicha emphasizes the importance of understanding the needs of stakeholders and building a business that evolves with them. Under his guidance, PayU has witnessed exponential growth, processing approximately $100 billion in payments volume and expanding its reach to over 30 markets by the end of 2020.

Agicha highlights the company’s journey, noting that in 2016, PayU processed $10 billion in payments volume across 16 markets. Fast forward to 2020, the company’s extensive reach spans over 30 markets, with impressive numbers—over a million merchants on its platform and connections with over 80 banks in India through the acquisition of Wibmo in 2019. Agicha proudly declares that the core payments business is now profitable, marking a significant milestone in PayU’s evolution.

Prashanth Ranganathan, the Chief Executive Officer of PayU Finance, embodies the spirit of collaboration and entrepreneurship that defines PayU’s growth strategy. Ranganathan emphasizes that PayU has a deep appreciation for entrepreneurs, and this sentiment is reflected in the company’s approach to partnerships and acquisitions.

As the founder of digital credit startup PaySense, Ranganathan experienced first-hand PayU’s commitment to collaboration. Following PayU’s investment in PaySense in 2017, PayU eventually acquired the company in January of the following year. Ranganathan, now leading PayU’s credit business, underscores the beauty of PayU’s strategy—recognizing that not everything needs to be built. PayU’s approach involves acquiring strategically important assets, integrating them with existing products, or building new verticals alongside existing ones.

Anirban Mukherjee, the Chief Executive Officer of PayU India since 2019, orchestrates the company’s growth with a focus on solving the problems and needs of merchants and consumers across payments, credit, and broader financial services. Mukherjee brings a unique perspective to the fintech landscape, emphasizing collaboration over going it alone.

Mukherjee acknowledges that PayU is not on this journey solo, stating, “We don’t want to build everything ourselves. We are also partnering with entrepreneurs.” This collaborative mindset has been a key driver of PayU’s success, distinguishing it from competitors. Mukherjee’s leadership has been instrumental in steering PayU’s growth through a series of strategic acquisitions, bold investment bets, and broad partnerships.

Under the trio’s leadership, PayU has executed a simple yet effective playbook—Buy, Build, Repeat. This approach involves acquiring strategically important assets, building upon existing capabilities, and repeating the cycle to create a comprehensive fintech ecosystem. Industry experts acknowledge that while the playbook’s theory is straightforward, execution is extremely challenging, and PayU stands apart due to its commitment to the founder’s mindset.

The company’s financials reflect the success of this approach. PayU’s revenue surged from Rs154 crore in FY15 to an impressive Rs1,194 crore in FY20. Moreover, losses, which peaked at Rs249 crore in FY17, stabilized at Rs99.5 crore in FY20. Srikrishna Ramamoorthy, a partner at Unitus Ventures, commends PayU for acquiring strategically important assets and scaling them effectively.

While PayU’s success is undeniable, the company faces challenges ahead, particularly in the competitive online credit lending market. The sector is crowded, customer acquisition costs are rising, and the risk of high delinquency poses a substantial threat. Analysts emphasize that PayU’s ability to underwrite and manage collections will be critical in navigating these challenges.

Mukherjee, focused on the future, expresses a desire for even faster growth, underscoring the company’s commitment to processing acquisitions, operations, and partnerships at an accelerated pace. As PayU continues to evolve, Vijay Agicha, Prashanth Ranganathan, and Anirban Mukherjee remain at the helm, driving innovation and collaboration to shape the future of fintech in India and beyond.

Entrepreneurs

Driving Circular Economy: Nasser Al Rawahi’s Innovative Approach

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Al Rawahi revolutionized the energy sector with his novel approach toward the regeneration of batteries, waste reduction, and extending the life of critical power systems. With over 15 years invested in the energy industry, his foresighted management received appreciation in many ways, including a coveted slot among Forbes Middle East’s list of Inspiring Business Leaders. At Saudi Aramco, Nasser is committed to driving the future energy landscape through innovation, sustainability, and technical excellence for generations to come.

Nasser Al Rawahi founded Hexagon Battery Regeneration with a passion to disrupt the energy industry by bringing back to life batteries that would otherwise be discarded. Since incorporating Hexagon in 2014, Al Rawahi has been at the helm in defining the strategic direction of the company toward ensuring that it meets the rising global demand for alternative energy. Combining his expertise in engineering and sales with a passion for innovation, Hexagon has grown to become among the leading companies in battery regeneration-a company initiative which introduces both economic and environmental benefits to businesses and consumers alike.

It all began with a sound combination of technical and managerial education for Al Rawahi to rise to the pinnacle in the energy industry. With a BSc in Aviation Management from Emirates Aviation College, Dubai, supplemented by a Higher Diploma in Aircraft Technology/Engines and Airframe from the Higher Colleges of Technology, Abu Dhabi, Al Rawahi brought together a rare combination of engineering know-how and business acumen. Later, he earned an Executive MBA from the reputed IE Business School in Spain, further whetting his ability to lead a growing company in a very competitive industry.

Before setting up Hexagon, Al Rawahi spent upwards of 15 years working with international multinationals in the energy sector, during which he shouldered management roles, both in engineering and sales. This position and experience allowed him to develop his skills even more and understand some of the challenges and opportunities within the industry. Al Rawahi realized there was further development required to reach more sustainable solutions and he found a gap in the market regarding battery regeneration-a process which reduces waste and lengthens the life of batteries simultaneously, hence is economically feasible and friendly to the environment.

With Al Rawahi at the helm, Hexagon Battery Regeneration created a splash in quick time-not only within the UAE but beyond. It has assisted businesses in saving costs by offering maximum battery life using state-of-the-art regeneration technologies; hence, it is a very important ingredient in their energy systems. This is how Hexagon has turned out to be the fulcrum in the energy market, especially when industrialists and governments have started thinking about sustainability with environmental stewardship.

Under his leadership, Hexagon has received wide acclaim for its innovative approach and business success. In 2015, a year into founding the company, Al Rawahi was featured among Forbes Middle East’s list of Inspiring Business Leaders in the UAE, a fact that further cemented his status as one of the pioneers in energy-related businesses and the rising importance of battery regeneration both as a tool against waste and for sustainability.

Part of the reason Hexagon has been so successful has to do with Al Rawahi himself and how he views leadership: As founder, he is heavily involved in overseeing the strategic direction of the business, and the main thing he pays most attention to is how Hexagon will maintain its edge above competitors on technology and customer service. His technical background lets him make informed decisions about the company’s products and services, while his business acumen makes sure Hexagon continues to attain growth and success in a very competitive market.

As the world moves into a green future, Al Rawahi and Hexagon lead the process in proving that one doesn’t have to make a choice between innovation and sustainability. With his leadership and determination, Nasser Al Rawahi isn’t just regenerating batteries-he’s regenerating the way we think about energy and sustainability.

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Entrepreneurs

The Design Innovator: Salem Al-Qassimi’s Journey of Creativity and Cultural Impact

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Over the past decade, Salem Al-Qassimi has been a resident visionary in the worlds of design and education, commanding respect throughout the UAE. As Founder and Principal of the dynamic platform Fikra, which merges design education, entrepreneurship, and cultural innovation, Al-Qassimi has established himself as one of the most influential voices in the Middle East’s rapidly growing design community. His multidisciplinary practice, which was deeply steeped in keen sensitivity and appreciation of contemporary cultural identity, continues to inspire new generations of designers and thinkers across the world.

Salem Al-Qassimi is not just a graphic designer; he is a front-runner who has been pushing boundaries regarding design education and discourses of culture within the UAE. It is his brainchild, Fikra that brings creative people together, giving them a place to experiment, learn, and interact with design holistically and effectively. Al-Qassimi has thus created a multifaceted platform through the Fikra Design Studio, the Fikra Campus, and the Fikra Graphic Design Biennial-celebrating design both as a profession and as a form of cultural activity.

Fikra: A Platform for Design Innovation

Established in 2006, Fikra Design Studio was initially set up as a boutique design house offering branding, graphic design, and creative consultancy. Along the way, Fikra evolved into a full-fledged platform that supported design education and community. The launch of Fikra Campus in 2017 marked a new chapter for the company-it brought together designers, students, and creative professionals under one roof to share ideas, participate in workshops, and work on projects that have pushed the envelope on traditional design.

Probably the most relevant program that comes under Fikra is the Fikra Graphic Design Biennial, which was started in 2018. The Biennial is the first of its type within the Middle East; it celebrates the role graphic design plays in shaping contemporary culture. It gives a unique platform for designers, artists, and cultural practitioners to present their work, have critical discourses, and discuss the intersection of design with societal issues. It immediately placed the UAE on the map of being in the circle of global design hubs, and the Biennial made its mark as a pioneering event in that respect.

Education has always been part of the core at the heart of Al-Qassimi’s mission. A designer who taught the subject for over a decade at leading institutions like the Rhode Island School of Design and the American University of Sharjah, Al-Qassimi is deeply committed to nurturing the next generation of designers. His teaching philosophy puts great stress on cultural context to design and allows students to investigate their identities through their creative work. Al-Qassimi’s avant-garde approach makes students realize that design is not about creating something for people to look at; rather, it is a medium through which stories could be told, complex problems solved, and culture expressed.

Thought Leader in Design and Culture

Apart from being a great educator and entrepreneur, Salem Al-Qassimi is a thought leader in design. He frequently speaks at conferences, universities, and exhibitions around the world about issues at which design, culture, and society intersect. His work has cropped up in a number of international periodicals, and he has written numerous articles, reviews and essays on topics as diverse as Arabic typography to the development of design education in the Arab world.

Design is deeply rooted in the mind of Al-Qassimi regarding his notion of creativity as an energetic tool in cultural dialogue. To a large extent, through Fikra and his academic work, he has sought to question the design conceptually conceived conventionally by offering nuance, which is necessary for any kind of historical and rich diversity that has characterized the region of Arabs. His efforts have placed him as a leader in the Middle East’s design community, arguing for Arabic design to be much better known worldwide.

Salem Al-Qassimi deploys design to tell stories, build communities, and bridge cultures. In this respect, through Fikra, he has certainly etched his mark into the UAE design landscape, pushing thinking outside of the box into new realms of possibility in design and education.

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Entrepreneurs

Bridgeway’s Visionary CEO: How Jaber Abdul Wahab is shaping the Future

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Jaber Abdul Wahab steers the Bridgeway Group from the helm as its chief executive officer. Having led a diversified business conglomerate-from shipping to logistics, engineering, technology, and several others-for close to two decades now, Jaber has not only succeeded in steering Bridgeway toward growth but has been an active advocate for sustainable business models, under whose benefaction economic and social progress have occurred simultaneously. His enthusiasm for novelty, coupled with his engineering background, has brought him to the forefront as a leader who is not just building a business but shaping up the future of industries.

Leadership by Jaber Abdul Wahab as Group CEO of Bridgeway depicts leadership, innovation, and excellence that he attained with this journey. He has led, over the last two decades, Bridgeway-a business house with interests in shipping and logistics, engineering and technology, healthcare, trading, and marketing. Under his guidance, Bridgeway expanded its geographical footprint in India and the Middle East to become a name that commands respect and inspires trust in these regions. Being a mechanical engineer by training, Jaber has always been particularly interested in technology and the betterment of processes. Such a background has been instrumental in his approach toward leading Bridgeway through leveraging technology in adding efficiency and performance to the various ventures of the group. His engineering mind-set makes him see opportunities for innovation at a place where others might see challenges. Be it optimizing supply chains in logistics or integrating new technologies in the field of healthcare, Jaber is always in search of ways to improve and innovate.

But what sets Jaber apart is the fact that his vision has transcended business growth in nature. He invests heavily in avenues of social and economic progress with a sustainable business model. For him, businesses are supposed to have a kind commitment toward society and the environment. This can be reflected in the mode of operation at Bridgeway, where sustainability and social impact are significantly factored into the decision-making process. Whether it was reducing the environmental footprint of the group’s logistics operations or supporting community initiatives in the regions in which Bridgeway operates, Jaber made sure the success of the group extended well beyond the bottom line. Another area in which he is making a significant impact is in education. A holistic approach to education, extending beyond traditional academics, is something very much supported by Jaber. He integrates art, sports, science, and global awareness into education, believing it will provide a well-rounded character that will be prepared for the modern world. Therefore, he has supported initiatives meant to foster a balanced approach to learning so as to help the next generation adequately meet the challenges and opportunities lying ahead.

At the centre of Jaber’s leadership philosophy is his belief in the power of people. He believes that his teams are Bridgeway’s powerhouse to success, and he is committed to empowering them to realize their full potential. Jaber nurtures a culture of mutual trust and collaboration within the group, allowing employees to be empowered in taking initiative with innovative ideas. In this light, his approach has driven not only Bridgeway’s success but has also cultivated an active work environment.

One of the major aspects of Jaber’s leadership is his commitment to continuous learning and self-improvement. He regularly attends programs at world-class institutions so that he is always on top with regard to industry trends and has sharpened skills. Indeed, such a commitment to learning will equip Jaber to consistently lead Bridgeway into whatever the future may hold.

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