Fin-tech startup, Lendingkart Group today announced the appointment of Mukesh Singh, a former SirionLabs executive as its new CTO.
The announcement comes at a time when Lendingkart is focusing on strengthening its technology stack by prioritizing automation and data engineering to make loan disbursal as quick, convenient and accurate as possible. Mukesh brings over 17 years of experience in software design, development & technology leadership that will play a key role in building high-performance, scalable software products and platforms for Lendingkart Group.
Mukesh’s key responsibilities will include driving strategy and execution for the technology vertical. His efforts will also be directed at building products and technologies that will make the company ready for massive adoption among India’s 50 million Small and Medium-sized Businesses (SMEs).
“We are moving on a large scale towards building technology and innovating to make working capital accessible to SMEs everywhere no matter the geographic remoteness. With Mukesh and his engineering expertise on board, we will be scaling more strongly by making automation and data engineering a huge part of the loan disbursal process for increased convenience and speed. Mukesh will be working closely with all functional heads in the company which will help us achieve our goal”, said Harshvardhan Lunia, CEO and Co-founder, Lendingkart Technologies.
Previously, Mukesh was the Senior Vice President of Engineering at SirionLabs. He was also the India R&D head for BitzerMobile which was later acquired by Oracle. He also has leadership experience at Amazon, Texas Instruments, and the number of successful startups such as Sipera Systems. He is also currently the owner of four engineering patents and has had a couple of IEEE papers published to his credit.
Today LendingKart is one of the several Fintech startups that are trying to disrupt the lending space through faster & innovative technologies. The main target of these Fintech startups are small businesses (SME’’s) and small business owners as they have been left largely untouched by the banking sector.
Lendingkart Finance underwrites loans for small and medium enterprises from its own books. The entity provides entrepreneurs collateral-free working capital loans ranging from Rs 50,000 to Rs 10 lakh. The company has helped disburse 12,000 loans across more than 700 cities in India.
Most recently the company raised $10 million (INR 67 crores) debt fund from Kotak Mahindra Bank, Aditya Birla Financial Services and other financial institutions.