OTPless Names Satyam Nathani CEO As Bhavik Koladiya Steps Away

Identity management firm OTPless has appointed co-founders Satyam Nathani and Tanmay Sagar as CEO and COO respectively, while previously CEO Bhavik Koladiya steps down. Koladiya announced his plans to retire, but did not provide further details. Under the new leadership, Nathani will oversee the company's strategy and growth, while Sagar will manage its operations and execution.

The appointment comes as OTPless aims to expand its services in authentication, identity, and payments. Koladiya described his entrepreneurial journey as "exhilarating and exhausting," and expressed confidence in Nathani and Sagar's ability to lead the company forward. Koladiya previously co-founded fintech unicorn BharatPe and later founded VC firm Finix Partners.

OTPless, founded in 2021 by Nathani and Sagar, assists consumer internet companies with authentication services through SDKs and APIs, including silent network authentication, WhatsApp authentication, device intelligence, and passkeys. These services aim to reduce reliance on OTPs, PINs, and passwords, while also enabling user identification, fraud prevention, and improved conversion during sign-ups and transactions.

The Bangalore-based startup has authenticated over 300 Mn mobile users and serves enterprises such as Meesho, Navi, PhysicsWallah, ShareChat, Shiprocket, ixigo, and Zepto, achieving ₹36 Cr in annualized revenue and profitability for the past two quarters. OTPless has raised over $6 Mn in funding from various sources, with its last round of $3.5 Mn in May 2024 aimed at global expansion and product diversification.