Cashfree Payments, a fintech company offering payment gateway, payouts, and banking API solutions, has appointed Sameer Gandhi—formerly a finance leader at Visa—as its new chief financial officer (CFO). The move, reported by Inc42 Media, comes as Cashfree seeks to improve financial performance after a widening loss in FY25 and following an RBI penalty for payment-aggregator compliance issues.
The Appointment
In an official statement cited by Inc42 Media, Cashfree said Gandhi will anchor its financial strategy, enhance efficiency in financial operations and revenue planning, and help accelerate growth with the aim to become profitable in coming quarters. Cashfree’s current CFO, Vikas Guru, is expected to support the transition, though his last working day is yet to be determined.
Gandhi previously led the finance department at Visa since 2017. According to the source, his background spans more than 25 years and includes roles at Vodafone, Citigroup, and CRISIL. Cashfree describes him as a chartered accountant.
Regulatory Licenses and Operations
Cashfree positions itself as a payments platform holding all three RBI payments licenses: payment aggregator (PA), cross-border (PA-CB), and prepaid payment instrument (PPI). According to the source, Cashfree claims this licensing coverage provides an edge over other players and has supported growth, particularly in cross-border payments.
The source indicates that Cashfree processes over $80 billion in annual transactions and serves more than 1 million businesses. The company was founded in 2015 by Akash Sinha and Reeju Datta and serves clients including Zomato, CRED, and Delhivery.
Financial Performance and Challenges
Cashfree’s financial results show pressure. In FY25, its net loss rose 14% to ₹154.1 crore from ₹135 crore in the previous fiscal year. Its top line remained flat at around ₹640 crore. At the operating level, EBITDA loss increased to ₹131 crore from ₹109.5 crore in FY24, with margins slipping to -20% from -17%. Cashfree has not yet disclosed its financial position for FY26.
Regulatory Penalty
The CFO appointment comes at a time when Cashfree faces regulatory scrutiny. The company was recently penalized by the RBI for flouting payment aggregator norms. According to the source, during an inspection period between April 2024 and June 2025, Cashfree made certain non-permissible debits from its escrow account.
Escrow handling is a core operational component in payment aggregator models, as it governs how funds are held and released according to permitted rules. The compliance finding indicates that Cashfree’s transaction settlement processes and escrow-account controls are areas regulators scrutinize.
Funding and Backing
Cashfree has raised over $90 million from investors including KRAFTON, Y Combinator, Smilegate Investment, and Musha Ventures, according to the source. The company is described as KRAFTON-backed.
Source: Inc42 Media