BharatPe-Backed Trillionloans Appoints Aditya Birla Group Veteran As CEO

BharatPe-backed non banking financial company (NBFC) Trillionloans has roped in industry veteran Sandeep Singh as its chief executive officer.

Trillionloans said in a statement that Singh’s expertise in profit and loss management, product strategy, distribution growth, channel development, digital partnerships, strategic alliances and customer service will help in driving the NBFC’s growth.

With over 16 years of experience across digital and retail lending, life insurance and enterprise software, he has built deep expertise in financial services and has led and scaled up various digital lending operations.

“…my focus will be on building scalable, tech-led lending products that meet the evolving needs of our customers, while ensuring we grow in a way that is both sustainable and responsible,” Singh said. 

Singh has been associated with Aditya Birla Group for almost 15 years. He last worked with Aditya Birla Finance as its digital lending vertical’s business head for more than six years. 

Prior to that, he was associated with Aditya Birla Sun Life Insurance for more than three years ending in 2015. 

Apart from Singh’s appointment, Trillionloans also announced its executive director Sabyasachi Senapati will be taking on a new role at BharatPe Group, leading key growth initiatives and central platform. 

“He will continue to serve as a whole-time director on the board of Trillionloans to enable a smooth transition,” it added. 

Founded in 2018 by Achal Mittal and Gautam Adukia, Trillion Loans provides a range of tailored credit products including SME loans, personal, vehicle, and consumer loans. It counts the likes of BharatPe Money, Ninjacart, Gokwik, OTO Capital, among its partners.

In August last year, BharatPe increased stake in Trillion Loans with an infusion of $8-9 Mn. It helped Trillionloans to scale up its loan book, offering seamless and tech-driven credit solutions to merchants, SMEs, and consumers.

This was BharatPe’s second investment in the Mumbai based NBFC after it picked up a 51% stake in the entity back in April 2023.

Back then, the company said that the acquisition was in line with its goal to address the credit gaps between businesses and consumers in the country.

The announcement comes a day after MSME-focussed fintech Lendingkart appointed DBS bank’s former managing director and head of consumer banking group Prashant Joshi as its CEO. 

Besides, several fintech players in the Indian startup ecosystem are extending NBFC arms to bolster their lending solutions and enhance offerings. Recently, fintech startup TapFin has floated a new NBFC subsidiary GoGreen Capital to offer financing solutions for cleantech businesses. 

Prior to that, supply chain financing platform Vayana reportedly received a non-banking finance company (NBFC) licence from the RBI in March.

Last month, fintech major Jio Financial Services (JFS) infused INR 1,000.24 Cr in its NBFC arm Jio Finance Limited (JFL) to further expand its offerings.