Satyam Nathani Appointed CEO of OTPless

Identity and access management startup OTPless has named co-founder Satyam Nathani as its new Chief Executive Officer. Tanmay Sagar, another co-founder, has been appointed Chief Operating Officer. Bhavik Koladiya is stepping down from the CEO role.

Koladiya had previously indicated plans for retirement. Under the new leadership, Nathani will focus on the company's strategy and expansion, while Sagar will oversee operations and execution. These changes support OTPless's objective to broaden its offerings in authentication, identity, and payments.

Founded in 2021 and based in Bengaluru, OTPless provides authentication services to enterprises through SDKs and APIs. Its solutions aim to reduce reliance on one-time passwords (OTPs), PINs, and passwords, while assisting businesses in user identification, fraud prevention, and conversion rate improvement.

The company recently reported reaching 360 million Indian Rupees in annualized revenue, a 2.5-fold increase year-over-year. OTPless has also achieved profitability for the past two quarters. The startup has raised over $6 million in funding from investors including Venture Highway and SIDBI.