Vivek Bansal, the group chief financial officer of InCred, has resigned from the company to launch his own non-banking finance company (NBFC) venture, Saarathi Finance. Bansal has joined hands with Sunil Daga, president of Kotak Mahindra Bank, for his new venture.
Saarathi Finance, which is currently awaiting approval from the Reserve Bank of India (RBI) to operate as an NBFC, is in talks with investors to raise INR 600 crore at a likely valuation of INR 1,000 crore.
Bansal’s resignation comes at a time when InCred is looking to raise $250 million in fresh funding to expand its operations. The company is also in the process of merging its two NBFC subsidiaries, InCred Capital and InCred Finance.
Bansal has been with InCred for over two years. Prior to joining InCred, he was the chief financial officer of Edelweiss Financial Services.
Bansal’s decision to launch his own NBFC venture is not surprising given his experience in the financial services industry. He has a deep understanding of the NBFC space and is well-connected in the industry.
Saarathi Finance is expected to focus on lending to small and medium enterprises (SMEs). This is a growing market in India, and there is a significant need for financing for SMEs.
Bansal’s new venture is likely to face stiff competition from other NBFCs operating in the SME space. However, Bansal’s experience and connections could give Saarathi Finance a competitive advantage.
Keywords: InCred, Vivek Bansal, NBFC, Saarathi Finance, Sunil Daga, Kotak Mahindra Bank, RBI, SME, funding
Vivek Bansal Resigns From InCred To Launch Own NBFC Venture
Vivek Bansal, the group chief financial officer of InCred, has resigned from the company to launch his own non-banking finance company (NBFC) venture, Saarathi Finance. Bansal has joined hands with Sunil Daga, president of Kotak Mahindra Bank, for his new venture.
Saarathi Finance, which is currently awaiting approval from the Reserve Bank of India (RBI) to operate as an NBFC, is in talks with investors to raise INR 600 crore at a likely valuation of INR 1,000 crore.
Bansal’s resignation comes at a time when InCred is looking to raise $250 million in fresh funding to expand its operations. The company is also in the process of merging its two NBFC subsidiaries, InCred Capital and InCred Finance.
Bansal has been with InCred for over two years. Prior to joining InCred, he was the chief financial officer of Edelweiss Financial Services.
Bansal’s decision to launch his own NBFC venture is not surprising given his experience in the financial services industry. He has a deep understanding of the NBFC space and is well-connected in the industry.
Saarathi Finance is expected to focus on lending to small and medium enterprises (SMEs). This is a growing market in India, and there is a significant need for financing for SMEs.
Bansal’s new venture is likely to face stiff competition from other NBFCs operating in the SME space. However, Bansal’s experience and connections could give Saarathi Finance a competitive advantage.
Saarathi Finance To Focus On Lending To SMEs
Saarathi Finance, the new NBFC venture of Vivek Bansal and Sunil Daga, is expected to focus on lending to small and medium enterprises (SMEs). This is a growing market in India, and there is a significant need for financing for SMEs.
Saarathi Finance is likely to offer a range of financial products to SMEs, including loans, working capital facilities, and invoice discounting. The company will also provide advisory services to SMEs.
Bansal and Daga have a deep understanding of the SME market and are well-connected in the industry. This could give Saarathi Finance a competitive advantage.
Saarathi Finance In Talks To Raise INR 600 Cr
Saarathi Finance is in talks with investors to raise INR 600 crore at a likely valuation of INR 1,000 crore. The company is expected to use the funds to grow its business and expand its operations.
A number of private equity and venture capital firms are interested in investing in Saarathi Finance. The company is expected to close the funding round in the coming months.
InCred Looks To Raise $250 Mn
InCred, the parent company of Vivek Bansal, is looking to raise $250 million in fresh funding to expand its operations. The company is also in the process of merging its two NBFC subsidiaries, InCred Capital and InCred Finance.
InCred is a leading digital lending platform in India. The company offers a range of financial products to consumers and SMEs.
InCred’s fundraising comes at a time when the digital lending market in India is growing rapidly. The company is well-positioned to benefit from this growth.
Vivek Bansal’s Experience In The Financial Services Industry
Vivek Bansal has over 25 years of experience in the financial services industry. He has worked at a number of leading financial institutions, including Edelweiss Financial Services and Kotak Mahindra Bank.
Bansal has a deep understanding of the NBFC space and is well-connected in the industry. This experience and expertise will be invaluable to Saarathi Finance.
Sunil Daga’s Support For Saarathi Finance
Sunil Daga, president of Kotak Mahindra Bank, is supporting Vivek Bansal’s new venture, Saarathi Finance. Daga has a wealth of experience in the financial services industry and is a well-respected figure in the industry.
Daga’s support for Saarathi Finance is a major boost for the company. Daga’s connections and expertise could help Saarathi Finance to succeed.
Conclusion
Vivek Bansal’s resignation from InCred to launch his own NBFC venture is a major development in the Indian financial services industry. Saarathi Finance is well-positioned to succeed, thanks to Bansal’s experience and connections, as well as the support of Sunil Daga.
The company is expected to focus on lending to small and medium enterprises (SMEs). This is a growing market in India, and there is a significant need for financing for SMEs.
Saarathi Finance is in talks with investors to raise INR 600 crore at a likely valuation of INR 1,000 crore. The company is expected to use the funds to grow its business and expand its operations.
InCred, the parent company of Vivek Bansal, is also looking to raise $250 million in fresh funding to expand its operations. The company is also in the process of merging its two NBFC subsidiaries, InCred Capital and InCred Finance.
The digital lending market in India is growing rapidly, and both InCred and Saarathi Finance are well-positioned to benefit from this growth.
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