DMI Finance has appointed Niraj Khandelwal as Group Chief Financial Officer and Rachit Gupta as Group Head of Treasury
While Khandelwal previously worked at Credit Suisse as head of financial accounting and regulatory reporting in Mumbai, Gupta recently worked with SMFG Grihashakti as head of treasury.
Founded in 2008, the company acquired struggling fintech startup ZestMoney earlier this year.
NBFC arm of financial services provider DMI Group DMI Finance
has strengthened its management team with two key appointments.
DMI Finance has recruited Niraj Khandelwal as Group Chief Financial Officer and Rachit Gupta as Group Treasury Head to further strengthen its strategic and operational capabilities as it continues to expand in the financial services sector.
According to Khandelwal’s LinkedIn profile, he has worked at Credit Suisse as Head of Financial Accounting and Regulatory Reporting in Mumbai since 2008. Before that, he also served as Assistant Vice President at IL&FS Investsmart Securities , owned by the HSBC group. He has an overall experience of over 24 years in banking and financial services.
Gupta also has over two decades of experience in the financial sector. Most recently, he was Head of Treasury at SMFG Grihashakti since 2021. Prior to that, he worked at Sumitomo Mitsui Financial Group as Senior Vice President of Treasury, Markets and Investments for over seven years.
Founded in 2008 by Yuvraja Singh and Shivashish Chatterjee, DMI Group earlier this year acquired Struggling fintech startup ZestMoney will roll out the acquired brand’s cashier financing platform across its product suite to broaden engagement with current and potential customers.
The Delhi NCR-based financial services provider caters to categories such as personal loans and MSME loans. It supplies and services customers through digital channels.
“These strategic appointments to our leadership team align with our long-term growth objectives. As we continue to innovate and grow, their leadership will be crucial to improving our financial and treasury operations while building strong relationships with stakeholders,” said Singh.
This comes at a time when many fintech startups are restructuring their management teams to increase productivity and fuel business operations.
For example, SaaS fintech startup Perfios roped Rajesh Kini as CFO to drive overall company growth, in August. The company has also made three other key appointments, including Sridhar Narayan as Chief Commercial Officer, Sumit Nigam as Chief Technology Officer and Anu Mathew as Chief Human Resources Officer, over the past year.
Meanwhile, fintech unicorn Yubi Group has also achieved several major leaderships. appointment at its group companies – Yubi, Corpository and Aspero – as well as a host of other changes to its product and finance functions, in July.
Updated at 4:53 p.m.