Indonesian fintech company Flip has announced the appointment of Pratyush Prasanna as its new Group CEO. Pratyush Prasanna, who joined Flip as Managing Director last year, will now lead the company through its next phase of growth and innovation. His extensive experience in the payments industry, including his previous roles as Head of Merchant Payments at GoTo Financial and leadership positions at Poynt and Paytm, is expected to significantly contribute to Flip’s expansion efforts.
Flip, which was founded in 2015 by Rafi Putra Arriyan, Ginanjar Ibnu Solikhin, and Luqman Sungkar, initially gained attention for its fee-free interbank transfer service. Since then, it has expanded its offerings to include Flip for Business and Flip Globe for international remittances. The company has successfully served over 15 million individuals and more than 1,000 businesses, processing billions of dollars in transactions.
The appointment of Pratyush Prasanna comes as Flip continues to build on the momentum from its Series B funding round in 2022. The round raised over $100 million from notable investors, including Tencent, Block, Inc., and Insight Partners. This substantial funding will support Flip’s efforts to expand its financial services, including bill payments, financing, and tailored business solutions.
Rafi Putra Arriyan, Flip’s co-founder, will shift his focus to leading the consumer business as President Director of PT. Fliptech Lentera Inspirasi Pertiwi, the entity behind the Flip consumer app. Arriyan expressed enthusiasm for Pratyush Prasanna’s appointment, stating, “As we accelerate our growth trajectory and expand our product offerings for both individuals and businesses, we are thrilled to have Pratyush on the team. His expertise and passion for our mission make him the perfect fit to lead Flip Group into this exciting new chapter.”
Pratyush Prasanna expressed his excitement about the role, saying, “I am incredibly honored to lead Flip Group at this exciting stage of its growth. Since joining as Managing Director last year, I have been impressed with the company’s focus and execution. With our founders and our talented team, we will continue to innovate and expand our offerings, ensuring that all Indonesians have the tools they need to achieve their financial goals.”
As Flip gears up for its next phase of development, the leadership transition is poised to drive the company’s continued success and expansion in the fintech sector.
Pratyush Prasanna has a strong educational and professional background in the fintech and payments industry. He holds an MBA from IIM Calcutta and completed his undergraduate from prestigious IIT Kharagpur. His career includes significant roles such as the Founder and CEO of MagicTiger, Vice President of Product at Paytm, and leadership positions at Xerox and Microsoft.
Professionally, Pratyush is known for his expertise in merchant payments and fintech innovations. He played a crucial role in the growth of the Paytm wallet and has been involved in formulating key payment infrastructures like UPI in India. In his new role as the Group CEO of Flip, he says he will focuses on expanding and innovating financial services for individuals and businesses.
