DMI Finance Boosts Leadership Team With Two Key Group Heads

Financial service provider DMI Group’s NBFC arm DMI Finance has strengthened its leadership team with two key appointments. 

DMI Finance has roped in Niraj Khandelwal as group chief financial officer and Rachit Gupta as group treasury head to further boost its strategic and operational capabilities as it continues to expand in the financial services sector. 

Based on Khandelwal’s LinkedIn profile, he previously worked with Credit Suisse as the head of financial accounting and regulatory reporting in Mumbai, since 2008. Prior to that, he also served as assistant vice president at HSBC Group-owned IL&FS Investsmart Securities. He has an overall experience of more than 24 years in banking and financial services.

Gupta also has over two decades of experience in the finance industry. Most recently, he served as head of treasury at SMFG Grihashakti since 2021. Before that, he worked with Sumitomo Mitsui Financial Group as senior vice president of treasury, markets and investments for over seven years.

Founded in 2008 by Yuvraja Singh and Shivashish Chatterjee, DMI Group earlier this year acquired troubled fintech startup ZestMoney to deploy the acquired brand’s checkout financing platform to its product suite to widen engagement with current and potential customers.

The Delhi NCR-based financial services provider caters to categories such as personal and MSME loans. It sources and services customers through digital channels.

“These strategic appointments to our senior management team align with our long-term growth objectives. As we continue to innovate and expand, their leadership will be crucial in enhancing our financial and treasury operations while also building strong relationships with stakeholders,” said Singh.

This comes at a time when a host of fintech startups are restructuring their leadership team to boost productivity and to fuel business operations.

For instance, fintech SaaS startup Perfios roped in Rajesh Kini as its chief financial officer to drive the company’s overall growth, in August. The company also made three other key appointments, including Sridhar Narayan as chief business officer, Sumit Nigam as chief technology officer and Anu Mathew as chief people officer, in the past year.

Meanwhile, fintech unicorn Yubi Group also made multiple major leadership appointments across its group companies — Yubi, Corpository and Aspero — as well as a host of other changes across its product and finance functions, in July.

Updated at 04:53 PM