Moglix Ropes In ASK Automotive Executive Sanjeev Arora As CFO

SUMMARY

Sanjeev Arora joins Moglix as CFO from ASK Automotive with over two decades of experience across automotive, chemicals and consumer goods sectors

Arora previously led IPO processes at ASK Automotive and held senior finance roles at Mosaic, Goodyear, Nokia and Apollo

Moglix plans to go public by 2027 and recently announced its domicile shift to India from Singapore

B2B ecommerce unicorn Moglix has roped in chartered accountant veteran Sanjeev Arora as its chief financial officer.

In his new role, Arora will lead the company’s financial strategy with focus on capital planning and preparation for entry into public markets.

“Moglix is building something truly transformative in India’s industrial and supply chain ecosystem. I’m excited to contribute towards strengthening the finance function,” Arora said.

“His acumen in financial strategy and capital markets will be invaluable as we scale towards our next phase of growth,” said Rahul Garg, founder and CEO of Moglix

.With over 20 years of experience, Arora most recently served as CFO at ASK Automotive where he played a key role in taking the company public. Before that, he worked as director finance at Mosaic for nearly six years.

His previous roles include serving as an associate director and country head of FPA at Goodyear India, business controller at Nokia, finance manager at Apollo International and business accountant at ConAgra Foods.

The appointment comes as Moglix prepares for its public debut, which Garg previously indicated would happen by 2027. The company has already shifted its domicile to India from Singapore to facilitate the listing process.

Founded in 2015, Moglix sells industrial tools and equipment through its B2B marketplace, serving sectors such as automotive, chemicals, consumer durables and FMCG. The company entered the unicorn club in 2021 after raising $120 Mn in its Series E funding round co-led by Falcon Edge Capital and Harvard Management Company.

Moglix recently received INR 107.58 Cr (around $12.3 Mn) from its Singapore parent in multiple tranches since December.

In November last year, Moglix expanded its operations by acquiring Uttarakhand-based paper products manufacturer Khatema Fibres for INR 80 Cr. It also invested $50 Mn in its supply chain financing arm Credlix in September 2024 to support expansion into the US and Mexico markets.

The B2B platform launched next-day delivery service in 12 major Indian cities last August, with plans to expand to 40 cities. In FY23, Moglix reported a net loss of INR 196 Cr, up 12% year-on-year, while its operating revenue increased 83% to INR 4,664.7 Cr during the same period.