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Bizongo appoints CEOs, CTPO and CFO for new verticals

Entrackr · 3m

E-commerce-focused packaging company Bizongo is ramping up the top deck of its raw material marketplace BizongoBuy and embedded supply chain finance platform BizongoFin with new chief executive officers (CEOs). The group has also appointed chief technology and product officer (CTPO) and chief financial officer (CFO), strengthening its senior leadership. Ex-banker Kiran Dev has been named CEO to lead BizongoFin, the fintech arm specializing in embedded supply chain financing solutions to address the $300 billion unmet SME credit needs. Prahlad Krishnamurthi has joined as the CEO to lead BizongoBuy, the integrated B2B marketplace for SMEs to buy raw materials. Last week, Krishnamurthi stepped down from the post of Cleartrip’s chief business officer (CBO). In addition, Gaurav Singhania has been appointed as the group’s Chief Financial Officer. The firm has also roped in Amol Wanjari as the group’s CTPO. He will draw on his leadership experience at Amazon and Acko to deliver an e-commerce-like experience to Indian SMEs through Bizongo’s digital platforms. In October last year, Bizongo had raised $50 million in its Series E funding round led by existing investor Schroder Adveq. Soon after the fundraise, it also acquired FactoryPlus, a digitisation app for MSME factories. Bizongo’s revenue from operations grew 98.6% to Rs 166.86 crore in FY23 while its losses spiked 173.1% to Rs 291.57 crore during the same period. Its FY24 numbers are yet to be disclosed.