SUMMARY
- Gaurav Maheshwari joins InCred Finance as Head of Finance, following his role as CFO at Standard Chartered Bank.
- Former CFO Vivek Bansal exits after six years to start his own NBFC venture.
- InCred Finance reported a 162% YoY profit increase, achieving ₹316.3 crore in FY24.
InCred Finance has appointed Gaurav Maheshwari, previously the Chief Financial Officer (CFO) at Standard Chartered Bank, as its new Head of Finance. Maheshwari’s appointment follows the departure of Vivek Bansal, InCred’s former CFO, who left the company after a six-year tenure to establish his own non-banking financial company (NBFC). Maheshwari brings with him two decades of experience, having held key leadership roles at Standard Chartered Bank, where he initially joined in 2001. After serving in various capacities until 2018, he returned to the bank as CFO in June 2020.
InCred Finance, a fast-growing fintech unicorn, reported strong financial results for FY24, achieving a consolidated net profit of ₹316.3 crore, marking a 162% year-on-year increase. This robust growth underscores InCred’s expanding presence in the financial sector, with Maheshwari expected to further strengthen the company’s financial strategy.
Maheshwari’s experience at Standard Chartered, combined with his expertise in managing financial operations, is seen as a valuable asset to InCred’s growth trajectory. With a strong background in banking and finance, Maheshwari is expected to drive InCred’s financial governance, capital management, and expansion initiatives.
InCred has gained significant traction as a fintech player in India, focusing on digital lending, consumer finance, and investment solutions. The company’s leadership transition is seen as part of its strategic initiatives to scale operations and enhance its market position in the rapidly evolving fintech landscape.
