Zepto Hires Coinswitch’s Ramesh Bafna as CFO; plans to go public in 2 years under his supervision

Fast-track trading startup Zepto hired Ramesh Bafna, chief financial officer of cryptocurrency firm Coinswitch, to head its finance department, replacing Jitendra Nagpal.

Aadit Palicha, CEO and co-founder of Zepto, told Business Insider that they are at a turning point in their journey and are confident of going public in two years.

“In that regard, we are pleased to have Ramesh join us and his primary mandate will be to take the company public,” he said.

Ramesh Bafna has diverse experience from leadership positions in finance, auditing and business at companies such as Wipro, Flipkart and Myntra. Before joining Zepto, Bafna worked in both positions as CFO with CoinSwitch and EvenFlow.

According to Bafna, “Zepto has made industry-leading strides in profitability while continuing to grow rapidly. To bring the company public in 2-3 years, I will focus on building a strong controllership infrastructure, taking the company’s compliance to the next level and most importantly, bringing the overall business to positive EBITDA, what I think a reasonable timeframe is possible.”

Aadit Palicha also said, “Ramesh is a world-class e-commerce CFO and he will build a world-class finance team at Zepto. Through disciplined execution, Zepto delivers incredible strides in growth and profitability Taking Zepto public in 2-3 years, we believe we need an incredible CFO and Ramesh is the right person for the job. I look forward to this journey of building a generational business with him on board!”

Founded in 2021 at the height of the pandemic by Palicha and Kaivalya Vohra, Zepto became one of the highest-funded quick commerce startups in the country, giving Swiggy Instamart and Zomato-owned Blinkit intense competition.

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