Paavan Nanda, co-founder of online gaming platform WinZO, was arrested by the Enforcement Directorate (ED) on Wednesday (November 26) in a money laundering case. The agency alleged that he and co-founder Saumya Singh Rathore withheld ₹43 crore that should have been refunded to gamers after India banned real-money gaming. Both were produced in a Bengaluru court and sent to one-day ED custody. More hearings are expected soon.
Who is Paavan Nanda?
Paavan Nanda, 38, is an Indian entrepreneur best known for co-founding WinZO, one of the country’s most popular social and real-money gaming platforms. Before WinZO, Paavan Nanda built a strong presence in the hospitality and tech startup space through his work with Zostel and ZO Rooms. He is recognised for scaling multiple startups into major brands.
Paavan Nanda Net Worth in Rupees
Paavan Nanda, co-founder of WinZO, has an estimated net worth of around ₹500–600 crore, according to public sources. His wealth comes mainly from his stake in WinZO, a leading Indian online gaming platform that reported ₹1,055 crore in revenue and ₹315 crore in profit in FY24.
The company’s strong financial performance has significantly contributed to Nanda’s fortune. However, recent legal troubles, including a money-laundering investigation and asset freezes worth ₹505 crore, may impact the actual realisable value of his net worth.
Paavan Nanda & Saumya Singh Rathore Combined Net Worth
Nanda and his co-founder, Saumya Singh Rathore, have a combined net worth of ₹962 crore. WinZO’s fast growth played a big role in this. The company posted strong numbers in FY 2023-24, with revenue rising 70% to ₹1,055 crore and profits increasing 151% to ₹315 crore, even after the steep 400% GST hike on online gaming from October 2023.
Why Paavan Nanda Got Arrested by ED?
According to the ED, WinZO did not refund ₹43 crore that belonged to gamers after the real-money gaming ban came into force. Officials also said the platform continued operating in multiple countries using the same structure as its Indian operations. In response, WinZO said fairness and transparency remain central to its platform and that it complies with all laws.
Paavan Nanda Current Role
Until his arrest, Nanda served as the co-founder and one of the strategic leaders at WinZO. He focused on scaling the platform, expanding into global markets, and building the company’s tech-based gaming ecosystem.
Paavan Nanda Wife
Publicly available information about Paavan Nanda’s personal life, including details about his wife, remains limited as he keeps his private life away from the spotlight.
Paavan Nanda Age
Paavan Nanda is 38 years old.
Paavan Nanda Education
Nanda completed his Bachelor’s degree in Engineering from the Netaji Subhas Institute of Technology (NSIT), New Delhi. He later earned an MBA from the Indian Institute of Management, Calcutta (IIM-C), one of India’s top business schools.
Paavan Nanda WinZO Games
WinZO, launched in 2018, offers interactive games, competitive tournaments, and social gaming features. Under Nanda’s leadership, the platform expanded globally, operating in countries such as Brazil, the US, and Germany. The ED alleges that WinZO used the same platform for international users as it did for Indian gamers.
Paavan Nanda Zostel
Before WinZO, Nanda co-founded Zostel, one of India’s well-known backpacker hostel chains. He also played a key role in running ZO Rooms, a budget hotel aggregator. His early ventures shaped his entrepreneurial journey and placed him firmly in India’s startup ecosystem.
How Paavan Nanda Started His Career?
Paavan Nanda began his career in the startup and hospitality space with Zostel and ZO Rooms. His early experience in scaling businesses helped him identify opportunities in India’s fast-growing mobile gaming sector, leading to the launch of WinZO.
Paavan Nanda Recent Controversy
The recent ED investigation has put Nanda and WinZO under intense scrutiny. The agency claims the company misled users by using algorithms to simulate human players without informing them. It also froze ₹505 crore in assets, including fixed deposits, bonds, and mutual funds.
WinZo Games Founders
WinZO Games was founded in 2018 by Paavan Nanda and Saumya Singh Rathore, two entrepreneurs who transformed the platform into one of India’s leading interactive gaming ecosystems. Nanda brought experience from building Zostel and ZO Rooms, while Rathore contributed her expertise in psychology and product strategy.
Together, they scaled WinZO across India and expanded it into international markets such as the US, Brazil, and Germany, making the platform a major player in the global gaming industry.
