On Thursday, Lendingkart Technologies Pvt Ltd promoted Abhishek Singh, Dipanshu Rajpurohit, and Ram Deshpande to the positions of Chief Operating Officer, Chief Business Officer, and Chief Marketing Officer, respectively.
As part of his new position, Singh will have the responsibility of managing the profit and loss (P&L) of the company, as well as overseeing business operations. This includes designing and implementing business strategies, monitoring daily operations, setting comprehensive performance goals, and ensuring profitable growth and the sustainability of the business, as per reported by vccircle.
According to a statement released by the company, Singh brings with him more than 22 years of experience in retail financial services. In his most recent role at Lendingkart, he served as Chief Analytics Officer and subsequently as Chief Business Officer for three years.
Meanwhile, Rajpurohit, previously Senior Vice President and Head of Sales and Revenue Operations, will now be responsible for all aspects of the company’s core business. He will work closely with the leadership team to develop and implement strategies that drive profitable growth, increase revenue, and enhance operational efficiency.
Deshpande has been appointed to head the marketing communication, product marketing, on-deck merchandising, advertising, public relations, and brand marketing endeavors.
Having more than 21 years of corporate experience in different business sectors, he became the marketing head at Lendingkart and managed the marketing initiatives of the organization.
Harshvardhan Lunia established Lendingkart in 2014, and the company has branches in Ahmedabad, Bengaluru, Mumbai, and Gurugram, with service coverage throughout the nation. Lendingkart has received support from global investors such as Fullerton Financial Holding (FFH), Bertelsmann, Mayfield India, Saama Capital, Sistema Asia, and India Quotient, among others. The company has accumulated approximately Rs 1,050 crore in equity funding thus far.
Lendingkart has provided more than Rs 14,000 crore to over 2 lakh MSMEs (micro, small, and medium enterprises) in over 4,000 cities and towns throughout all states and union territories of India since its establishment. It faces competition from Aye Finance, Clix Capital, NeoGrowth, and FlexiLoans, among others.
Lendingkart has recently acquired Upwards Fintech, a retail lender, for approximately Rs 100 crore, to provide personal loans to small businesses.