InCred CFO Vivek Bansal Quits To Float His Own NBFC Venture

InCred CFO Vivek Bansal Quits To Float His Own NBFC Venture

SUMMARY

Vivek Bansal has stepped down as InCred’s group CFO and is set to launch his own MSME-focussed NBFC venture, Saarathi Finance

Bansal has joined hands with Sunil Daga, president of Kotak Mahindra Bank, for his new venture

Saarathi Finance, currently awaiting approval from the RBI to operate as a NBFC, is in talks with investors to raise INR 600 Cr at a likely valuation of INR 1,000 Cr

Vivek Bansal has reportedly stepped down as InCred’s group chief financial officer (CFO) after a six-year stint at the fintech company and is set to launch his own MSME-focussed NBFC venture, Saarathi Finance.

Bansal has joined hands with Sunil Daga, president of Kotak Mahindra Bank, for his new venture, Moneycontrol reported, adding that both executives have resigned from their respective companies and are in talks with investors to raise funds for Saarathi Finance.

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