People · Commerce & Consumer Brands

Swiggy appoints separate finance heads for verticals

By Startup Enthusiast · 18 August 2025

What they do

Swiggy creates two new Vice President roles to manage finances for Instamart and food delivery separately

Both new VPs report directly to CFO Rahul Bothra following an organizational restructuring

Swiggy has no near-future plan for inventory-led model but considers it a natural evolution

Swiggy has restructured its finance team by creating two distinct Vice President positions for Instamart and food delivery.
These new roles allow specialized financial management for each major business vertical within the company.
Both new Vice Presidents will report directly to Chief Financial Officer Rahul Bothra.
This change follows the departure of Saurav Goyal who previously headed combined finance divisions.
Goyal moved to head the driver and delivery department in June before this latest announcement.
The reorganization signals a strategic shift towards managing verticals independently rather than as a single unit.
Swiggy aims to improve operational efficiency through dedicated leadership for its core revenue streams.
The timing coincides with increased domestic ownership to meet foreign investment compliance requirements.

Blinkit recently announced a transition to an inventory-led model which may influence industry standards.
Swiggy's Instamart currently follows a marketplace model similar to traditional food delivery services.
The company increased domestic ownership from roughly 13% to 40% to become an Indian-owned entity.
Holding inventory requires capping foreign shareholding at 49.5% to maintain full Indian control status.
CFO Rahul Bothra noted that an inventory-led evolution might happen naturally at some future point.

Swiggy operates a dual-platform model offering food delivery and quick commerce through Instamart.
Instamart functions primarily as a marketplace connecting consumers with local sellers for instant goods.
The company reported operating revenue of Rs 4,961 crore in Q1 FY26 showing 54% growth.
Net loss doubled year-on-year to Rs 1,197 crore despite significant revenue expansion in the quarter.
Cash spent on operations reached Rs 1,053 crore net basis across investing and financing activities.
The business relies heavily on a large network of drivers for last-mile delivery logistics.
Financial complexity has grown requiring specialized oversight for distinct verticals like Instamart versus food.
Domestic ownership levels have risen significantly to ensure compliance with evolving foreign direct investment norms.

Swiggy may eventually adopt an inventory-led model for Instamart if market conditions evolve naturally.
The company continues to focus on expanding domestic ownership to secure regulatory compliance.
New finance leadership will likely drive more granular cost management across both business verticals.