Bengaluru-based identity and access management firm OTPless has announced a leadership transition, elevating cofounders Satyam Nathani and Tanmay Sagar to CEO and COO roles respectively, as outgoing CEO Bhavik Koladiya steps away from daily operations.
- Satyam Nathani named CEO; Tanmay Sagar as COO
- Bhavik Koladiya retires after leading since Jan 2023
- Startup has 2.5X revenue growth, profitable last two quarters
What happened
OTPless, an Indian startup specializing in identity and access management technology, has announced a change in leadership. Co-founder Satyam Nathani has been promoted to CEO, while fellow co-founder Tanmay Sagar takes on the COO role. The previous CEO, Bhavik Koladiya, who also co-founded fintech unicorn BharatPe, is stepping away to retire.
These leadership changes coincide with OTPless’s plans to expand its service offerings beyond traditional authentication products. Nathani will drive strategy and expansion, whereas Sagar will manage operational execution. The company was founded in 2021 and Koladiya took charge as CEO in January 2023.
Why it matters
OTPless provides identity verification solutions designed to reduce reliance on one-time passwords, PINs, and passwords by leveraging technologies such as silent network authentication and device intelligence. These innovations help improve user verification accuracy and reduce fraud risks, crucial for consumer internet businesses.
The startup has made strong market inroads, authenticating over 300 million mobile users and serving well-known clients including Meesho, ShareChat, and Zepto. Its revenue has grown 2.5 times year on year to ₹36 crore, and it has been profitable for two consecutive quarters, underscoring operational stability and positive growth dynamics.
What to watch next
Investors and industry observers will look to OTPless as it embarks on expanding its offerings from authentication into authorization and payment services. The company’s recent $3.5 million pre-Series A funding round led by SIDBI aims to fuel this global expansion and product suite enhancement.
The new leadership under Nathani and Sagar will be pivotal in scaling the business, navigating competitive identity management markets, and exploring partnerships. OTPless’ ability to leverage its current client base and technological insights will be key indicators of its future trajectory.