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Bizongo appoints CEOs, CTPO and CFO for new verticals

EntrackrEntrackr · 10m ago
Bizongo appoints CEOs, CTPO and CFO for new verticals
Medial

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.

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Tiger Global-backed Bizongo beefs up top deck with former AmEx, Amazon Pay execs

VCCircleVCCircle · 10m ago
Tiger Global-backed Bizongo beefs up top deck with former AmEx, Amazon Pay execs
Medial

Bizongo, a B2B platform backed by Tiger Global, has made several new appointments to its leadership team. Former American Express executive Gaurav Singhania has been named as the Chief Financial Officer, while ex-Amazon Pay executive Amol Wanjari has been appointed as the Chief Technology and Product Officer. The announcement comes amidst reports of a complaint filed by Bizongo against an employee for misappropriation of funds, leading to the departure of the company's CFO. Additionally, Bizongo is expanding two of its business verticals, with Kiran Dev becoming the CEO of BizongoFin, the supply chain financing arm, and Prahlad Krishnamurthi taking over as CEO of BizongoBuy, a marketplace for small and medium businesses to purchase raw materials. The company recently raised $50 million in its Series E funding round, valuing it at approximately $980 million.

BharatPe appoints Nalin Negi as full time CEO

EntrackrEntrackr · 1y ago
BharatPe appoints Nalin Negi as full time CEO
Medial

Fintech company BharatPe today announced the elevation of Nalin Negi as its chief executive officer (CEO). Negi, the former chief financial officer of the company, was appointed as the interim CEO in January last year. BharatPe will institute a search for appointment of a new CFO, the company said in a press release. BharatPe claims that it recorded 182% increase in revenue from operations in FY23 and clocked October 2023 as the first EBITDA positive month under Negi leadership. Nalin Negi joined BharatPe in 2022 and in his new role he will focus on leading the next phase of development, driving innovation to empower merchants across the country, as per the statement. Prior to joining BharatPe, Negi held several senior leadership positions at SBI Cards and GE Capital. “..Going forward, our strategic focus will be on sustained profitability, scaling lending businesses, and launching new merchant-centric products…,” said Negi in a statement. BharatPe has been going through transformation to strengthen the leadership team across three verticals. The firm recently reshuffled its three verticals- Resilient Innovations Private Limited (merchant app), Resilient Payments Private Limited (Payment unit), and Resilient Digi Services Private Limited (lending unit). Entrackr exclusively reported the development last week. BharatPe completed its $100 million debt round from InnoVen Capital and Credit Saison. Entrackr exclusively reported this in January. Financially, BharatPe also seems to be getting back on track as the firm claimed that its annualized revenue crossed Rs 1,500 crore, marking over 30% growth as compared to FY23. In FY23, it crossed Rs 1,000 crore revenue mark while its EBITDA loss went up 9% to Rs 772 crore.

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