A senior executive at listed digital payments platform Paytm, which on Thursday lost the most valued fintech startup tag to Razorpay, has joined venture debt firm Trifecta Capital as partner.
The appointment comes at a time when Trifecta Capital raised Rs 1,500 crore for its maiden equity fund called - Trifecta Leaders Fund – I
Abhishek Gupta was associated with the fintech behemoth as senior Vice President (VP) and Chief Operating Officer (COO) for its lending vertical for the past 18 months.
However, the new role and responsibilities of Gupta, who is also a seasoned angel investor, couldn’t be immediately known.
Prior to joining Paytm, Gupta, an alumni of Harvard Business School, was the India lead for Singapore based BNPL(buy now pay later) startup Atome.
Gupta had also previously co-floated fintech venture Goals101.
Last year, Trifecta Capital lost one its senior executives Ankit Sharma, who stepped down as director at the investment firm and joined partner at N+1 Capital.
Gurugram-based Trifecta Capital has invested in over 70 companies across two venture debt funds. It has backed unicorns and soonicorns including Bigbasket, Pharmeasy, Cars24, Vedantu, Infra.Market, ShareChat, and Dailyhunt.
Other investments include Practo, UrbanCompany, CarDekho, Blackbuck, Ninjacart, NoBroker, Kreditbee, Dehaat, Turtlemint, Livspace and BharatPe.
Last year, Trifecta also announced to have raised $100 million as first close of its third venture debt vehicle.
The fund is said to have a target corpus of Rs 1,000 crore and a green shoe option to raise another Rs 500 crore.
It had also been operating a late stage venture capital fund. In October 2021, it had announced to have already deployed Rs 400 crore across four companies.
Trifecta Leaders Fund I has so far invested in travel app ixigo, beauty brand MyGlamm, epharmacy startup PharmEasy, and social commerce firm Meesho.