Leadership reshuffle sees Naveen Kukreja transition to Group President role after 11-year tenure, as PB Fintech positions for expansion in savings and pension markets
CHENNAI, Feb 28, 2025 — PB Fintech Ltd, the parent company of financial marketplace giants Policybazaar and Paisabazaar, has announced a significant leadership restructuring, with Santosh Agarwal set to take over as the new Chief Executive Officer of Paisabazaar effective March 1, 2025. The appointment comes as Naveen Kukreja steps down from the CEO position after leading the company for 11 years, though he will remain involved with the organization in new capacities.
The leadership changes, disclosed through a regulatory filing on Thursday, mark a new chapter for one of Tamil Nadu’s most successful fintech enterprises as it looks to strengthen its position in India’s competitive financial services landscape.
According to the company statement, Agarwal, who currently serves as the chief business officer of life insurance at Policybazaar, has been recognized for her exceptional performance. “Ms. Santosh Agarwal would be taking over as Chief Executive Officer and a Key Managerial Personnel of Paisabazaar to drive the business,” PB Fintech stated in its filing. The company highlighted that “she has been a top performer in the company almost every year of the last decade,” underscoring the confidence in her leadership capabilities.
While Kukreja is stepping away from operational responsibilities at Paisabazaar, he isn’t leaving the PB Fintech family. He will transition to the role of group president and will continue to serve on Paisabazaar’s board as a non-executive director. The company expressed its intentions to support Kukreja in new ventures within the group, noting that “he has decided to step away from running Paisabazaar operationally and explore other opportunities within PB Fintech,” and adding that they “hope to back him in new ventures within the group in the coming months.”
The leadership restructuring extends beyond the CEO position, with significant changes in the finance leadership of both Paisabazaar and Policybazaar. Vivek Audichya, currently the Chief Financial Officer of Paisabazaar, will step down from his position on February 28 and move to Policybazaar as its new CFO starting April 1. He will replace Ashutosh Mishra, who is leaving the position as part of an internal job rotation strategy. Meanwhile, Neeraj Tripathi, currently heading taxation and financial reporting at Policybazaar, will take over as CFO of Paisabazaar beginning March 1.
“These strategic leadership changes align with our vision to strengthen PB Fintech’s position as India’s premier financial services platform,” said a company spokesperson. “Both Santosh and Vivek bring exceptional expertise and proven track records that will be instrumental as we enter our next growth phase. We are equally excited about Naveen’s new role in exploring innovative opportunities within the group.”
Industry experts view these changes as part of PB Fintech’s strategy to diversify its service offerings. “The promotion of internal talent to leadership roles demonstrates the company’s commitment to nurturing and recognizing high-performing executives,” said Rahul Sharma, a Chennai-based fintech analyst. “This approach ensures continuity while bringing fresh perspectives to drive innovation in an increasingly competitive market.”
PB Fintech emphasized that these leadership transitions were part of a structured process designed to align leadership roles with the company’s long-term growth strategy. The company noted that appointments were made through a “competitive” process, suggesting a thorough evaluation of potential candidates.
The leadership changes come at a time when PB Fintech has been actively expanding its footprint in India’s financial services sector. The company has shown particular focus on enhancing its digital lending and insurance capabilities, areas where both Paisabazaar and Policybazaar have established strong market positions. According to recent industry reports, Paisabazaar has facilitated over ₹50,000 crore in loans through its platform, serving more than 30 million customers across India, with a significant portion coming from Tamil Nadu and other southern states.
Looking ahead, PB Fintech has outlined ambitious plans for Paisabazaar under its new leadership. “We have ambitions for Paisabazaar to not just grow its unsecured and secured lending footprint, but also expand into the world of pensions and savings,” the company revealed in its statement. This expansion into retirement planning and savings products represents a strategic diversification that could capitalize on India’s growing focus on financial security and retirement planning.
For Tamil Nadu’s thriving startup ecosystem, these developments at PB Fintech highlight the maturing nature of the state’s fintech sector. Chennai has emerged as a significant fintech hub, with companies like Paisabazaar establishing strong operational bases in the region. The leadership changes at such a prominent player could signal new opportunities for collaboration, innovation, and talent development within the local ecosystem.
The company’s demonstrated commitment to internal talent development also sets a positive precedent for other startups in the region. By promoting high-performing executives from within, PB Fintech showcases a sustainable approach to organizational growth and leadership succession that could influence talent retention strategies across Tamil Nadu’s startup landscape.
As Agarwal prepares to take the helm at Paisabazaar, all eyes will be on how the new leadership team navigates the evolving financial services landscape and executes on the company’s expanded vision. With strong foundations built during Kukreja’s tenure and fresh leadership perspective, Paisabazaar appears well-positioned to enter its next growth phase while continuing to contribute significantly to Tamil Nadu’s increasingly vibrant fintech ecosystem.
