Vijay Agicha, the chief investment and transformation officer of PayU, which is backed by Naspers, has left his position, according to several people with knowledge of the situation.

According to them, Agicha may be joining an investment firm to concentrate on fintech investments.

His exit occurs a few months after that of Suresh Rajagopalan, the former CEO of Wibmo, an online digital payment provider owned by PayU, who also left the company.

“During his lengthy tenure with the company, Vijay has been crucial in guiding four significant acquisitions and creating a careful fintech ecosystem through a number of minority investments. We wish him continued success as he wraps up his leadership journey at PayU,” a PayU representative stated.

Since August 2023, when it sold its international operations to Israel-based Fintech service provider Rapyd, PayU has seen a number of notable leadership changes.

Laurent Le Moal, who had been PayU's global CEO since 2016, resigned from his position in September 2023, although he continued to serve as an advisor to Prosus and PayU.

In October 2023, Anirban Mukherjee took over as CEO, succeeding Moal.

PayU Finance CEO Prashanth Ranganathan and PayU's former global chief financial officer Akash Moondhra both left the company at around the same time.

Agicha is on the boards of several businesses, including Fisdom, BriskPe, and DotPe. PayU provided $5 million to the cross-border payments platform BriskPe in April.

Furthermore, after ten-year tenure with the conglomerate Bob van Dijk, CEO and board member of Prosus and its parent company Naspers, abruptly announced his departure in September 2023. In March 2024, Fabricio Bloisi took Dijk's place.