Mumbai-based NBFC platform, InCred has appointed Vivek Bansal as its Chief Financial Officer. The appointment is aimed at strengthening its top deck as it embarks on the next phase of its growth, the company said in a press statement.
Speaking on his appointment, company’s Co-founder & CEO Bhupinder Singh said, “I am thrilled to have Vivek on board as InCred’s CFO. He has extensive experience in all aspects of financial control, strategy and planning. Vivek is passionate about establishing excellence in financial management and bringing global best practices of governance which makes him a perfect fit for InCred. I am confident that Vivek’s addition to InCred’s leadership bench will aid our growth across all aspects of our business.”
Mr Bansal is a highly regarded finance professional with over 20 years of rich domestic and international experience in the banking and financial services industry. In his earlier stint, he led the Finance division at YES Bank as Deputy CFO. Previously, he held key leadership roles at Fidelity Investment Managers in the UK and Standard Chartered Bank in India.
“I am delighted to join InCred at this very exciting stage in its journey to become a key financial partner for every Indian family. I am amazed by the energy buzz and enthusiasm that I see in the InCred team, and I hope to be able to contribute in a meaningful way to the InCred story”, said the newly appointed CFO for InCred.
InCred was founded by Bhupinder Singh and Nikhil Sama, which started operations in late-2016. The startup offers loans across 4 categories: Consumer Loans, Affordable Housing Loans, Education Loans and SME Loans. In March, the company announced the launch of its two-wheeler loan vertical with an aim to provide easy and convenient two-wheeler loans to borrowers across its offices in 6 states.
InCred raised about $74 million at the time in August 2016 from a clutch of investors including former Deutsche Bank co-CEO Anshu Jain, Manipal Group managing director Ranjan R Pai, Landmark Holdings founder Gaurav Dalmia, IDFC PE, Alpha Capital and Paragon Partners.