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GyanDhan elevates Aman Jain to co-founder role

EntrackrEntrackr · 3m ago
GyanDhan elevates Aman Jain to co-founder role
Medial

Education financing platform GyanDhan has elevated Aman Jain to the role of Co-founder. This move acknowledges Aman’s early belief in the company’s mission and his pivotal contributions across marketing, brand building, and strategic growth over the years. Aman now joins Ankit Mehra and Jainesh Sinha as the third co-founder of GyanDhan. Aman joined GyanDhan before the company disbursed its first education loan. He took charge of marketing and branding, helping establish it as a trusted and student-centric name in education financing, transforming an opaque process into a transparent and empowering experience for thousands of students. In recent years, Jain has expanded his role to lead strategic partnerships, building GyanDhan’s B2B ecosystem across more than 30 cities and launching a SaaS+ platform that helps study abroad consultants manage and streamline the loan process for their students. “Being named Co-founder is a deeply meaningful recognition of a journey I’ve been grateful to be part of since the very beginning. Building GyanDhan alongside Ankit and Jainesh has been both fulfilling and inspiring, grounded in trust, shared purpose, and genuine friendship. I’m thankful for their support over the years and look forward to continuing this mission together,” said Aman Jain, co-founder, GyanDhan. Recently, it raised Rs 50 crore (around $5.8 million) in a Series A round from Classplus and Pravega Ventures. The company claims to have enabled over Rs 7,000 crore in loan originations and aims to triple this to Rs 18,000 crore over the next three years. It has seen rapid growth over the past few years. In FY24, the company posted an operating revenue of Rs 21.4 crore along with a profit of Rs 1.36 crore.

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ProcMart elevates Sachin Jain to co-founder

EntrackrEntrackr · 4m ago
ProcMart elevates Sachin Jain to co-founder
Medial

ProcMart elevates Sachin Jain to co-founder ProcMart, a B2B marketplace for indirect procurement, has appointed Sachin Jain as co-founder. Sachin Jain joined ProcMart in March 2024 as CFO and CSO, playing a key role in business expansion, financial systems enhancement, and sustainability initiatives, including the acquisition of a green packaging facility in Aurangabad. Before joining ProcMart, Sachin Jain served as the CFO at Mahle Anand Filter Systems, where he managed finance, tax, and IT operations. He also held the position of Senior Vice President of Finance at the Anand Group. As co-founder, he will work alongside founder & CEO Anish Popli to drive growth, strengthen customer relationships, and scale operations across supply chain, product development, and finance. Founded in 2015, ProcMart provides supply chain solutions and infrastructure to businesses including services such as purchase order management, contract administration, master data management, e-catalog management, and market intelligence. The company has raised $43 million to date, including a $30 million Series B round led by the Fundamentum Partnership and Edelweiss Discovery Fund. Its existing investors also include IndiaMART. ProcMart’s gross revenue shot up over 200% to Rs 621.5 crore in FY24 when compared to Rs 206.07 crore in FY23. The company remained profitable during FY24.

MyGate elevates co-founder Abhishek Kumar as CEO

EntrackrEntrackr · 1y ago
MyGate elevates co-founder Abhishek Kumar as CEO
Medial

Community management app MyGate has announced senior management changes as it elevated co-founder Abhishek Kumar, who was previously the chief operating officer, to the position of chief executive. Meanwhile, co-founder Vijay Arisetty, who previously served as the chief executive, has now taken the role of chairman of the board. According to the company, Arisetty will guide the team on the firm’s strategic direction and continue to mentor the leadership team. Co-founder and chief technology officer Shreyans Daga will now have an expanded role overseeing product, technology, and new business initiatives. Founded in 2016 by Kumar, Arisetty and Daga, the company had raised Rs 100 crore ($13 million) in a funding round co-led by Urban Company and Acko in 2022. Entrackr exclusively reported the development. Last month, the firm announced employees stock buyback program for more than 50 employees. The buyback came on the back of improved financial results for the Bengaluru-based company in the last and current fiscal year. Additionally, Rohit Jindal, who has been with the company since 2017, has been elevated to the role of chief business officer. MyGate recently claimed that its revenue crossed Rs 100 crore in FY23, a 35% increase from the previous fiscal. The company’s investors include Tencent, Tiger Global, and Xto10X, among others.

IPO-bound boAt elevates Gaurav Nayyar as CEO

EntrackrEntrackr · 8d ago
IPO-bound boAt elevates Gaurav Nayyar as CEO
Medial

**IPO-bound boAt elevates Gaurav Nayyar as CEO** Nayyar, who previously served as Chief Operating Officer, steps into the CEO role at a time when boAt has returned to profitability and received regulatory clearance for its much-awaited IPO. Imagine Marketing, the parent company of boAt, has elevated Gaurav Nayyar to Chief Executive Officer as the company gears up for its next stage of growth and a public listing. Nayyar brings more than two decades of strategic and operational experience, including eight years as a partner at Bain & Company before joining boAt three years ago. Together with the founding team, he has helped drive the company’s operational execution and business performance. Co-founder Sameer Mehta, who led boAt as CEO in recent years, will now focus on long-term strategy as Executive Director. Co-founder Aman Gupta will retain his role as Non-Executive Director. The leadership change comes on the back of boAt's strong performance in FY25, as the company posted a net profit of Rs 60 crore compared to a loss of Rs 74 crore in the previous year. This turnaround was driven by cost control, resilient audio product sales, and growth in international markets, despite a contraction in its wearables division. boAt's total revenue for FY25 stood at Rs 3,098 crore, of which India contributed the majority, and international revenue grew 44 percent year on year. boAt is now set to become the first Indian D2C electronics brand to go public after receiving SEBI’s approval for its IPO. The upcoming public offer is expected to raise Rs 2,000 crore, with a fresh issue component of Rs 900 crore, and places the company’s valuation near Rs 13,000 crore, as per reports.

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