Indian SME lender Lendingkart announced new hires plucked from Amazon and PayU India, reported Pymnts.com. Vishal Chopra, a former Amazon India exec, will join Lendingkart’s team as CRO, while Nihit Nirmal, formerly of PayU India, will join as SVP of products.
“Lendingkart Group NBFC has emerged as a leader in enabling financial assistance to SMEs, and I am pleased to contribute to overall vision of the group,”commented Chopra in a statement. “In my new role, I will be looking at strengthening the existing revenue lines and introducing new lines of business.”
Chopra plans to focus on marketing, customer experience and sales he helps Lendingkart grow, according to Pymnts.com.
Nirmal pointed to the role Lendingkart plays in India’s support of small businesses.
“I firmly believe that tech-driven SMEs will play a huge role in India’s next phase of growth,” stated Nirmal. “Lendingkart Group is a promising platform that is working towards making loans more accessible to this sector. My focus will be to help expand its horizons by building technology products that solve problems of capital accessibility for SMEs.”
Nirmal’s focus will be on new product development and adoption, reported Pymnts.com, helping Lendingkart provide financing to SMEs with “zero human intervention.” In late June, Lendingkart raised Rs 205 crore ($32 million) in Series B round led by Bertelsmann India Investments; from the $32 million, $20 million was raised as equity and $12 million as debt. Last year, Lendingkart announced a $10 million Series A funding round led by Saama Capital, Mayfield Fund, Shailesh Mehta and Ashvin Chadha.