Khatabook has announced the appointment of two new senior executives for its Financial services / digital lending organization. Rajiv Janjanam joins the startup as a Head of Khatabook’s Financial Services organization, responsible for leading digital lending and other Finserv initiatives on the platform. In addition, the startup has appointed Amitava Das as Head of Collection for its digital lending Org. Amitava would be responsible for setting up collection channels and owning the collection metrics as the startup’s lending business scales across the country. In May 2022, the startup hired Sachin Bawari as Head of Risk, who assumed the responsibility for managing risk and underwriting for the startup. With these critical leadership hirings, the startup has set up an exhaustive organizational charter to lead the scale-up of its Finserv operations in 2023.
With over 17 years of experience setting up digital lending products, Rajiv has an impressive track record of managing risk policies and digital capabilities in consumer retail and small business lending. Before Khatabook, Rajiv had been associated with financial brands such as RBL Bank Ltd., Capri Global Capital, Barclays Bank PLC, Reliance Capital Ltd. & Reliance Home Finance, and HDFC Bank Ltd.
With over two decades of experience, Amitava has in-depth knowledge of collection, credit control, customer service, and retention. Having worked with some significant financial institutions and Fintech, such as Slice, InCred Finance, Kotak Mahindra Bank Ltd, ICICI Bank Ltd, and HDFC Bank Ltd, his expertise in the collection is a great value addition for Khatabook’s digital lending.
Commenting on these leadership appointments, Ravish Naresh, CEO, and Co-founder, Khatabook, said, “2022 has been a great year for us. We successfully introduced digital lending solutions to our users on top of our SaaS solutions. We have been extremely cautious in identifying each aspect of digital lending and onboarding the right talent to our leadership team, which will be responsible for shaping up the Financial Services org at Khatabook and facilitating the scaling up of the business. Rajiv and Amitava join Khatabook at an exciting period in our journey. Their knowledge and expertise will contribute immensely to our aim of enabling MSMEs with efficient finance.”
Speaking on his appointment, Rajiv Janjanam, Head of Financial Services, Khatabook, said, “At its core, Khatabook is a leader in providing best-in-class digital solutions to India’s core, ‘the MSMEs.’ I have seen Khatabook grow from strength to strength. I am thrilled to be part of the team and look forward to bringing my expertise to scale financial services, expanding the product portfolio, and driving profitability.”
“Khatabook has become a trusted name for India’s MSMEs for managing their finances. With the lending business being the top priority for the startup in 2023, I am excited to join the team at this crucial stage and contribute to building the collection charter.” Said Amitava Das, Head of Collection, Khatabook.
Recently, Khatabook has concluded an MSME lending pilot on its platform and is extending its business model to Financial services on top of its Fintech SaaS offerings. Scaling digital lending is the top priority for the startup in 2023, and these leadership appointments are crucial to the same.
Khatabook has 10 million monthly active users on the platform spread out in almost every district of the country, and currently, it is organically adding 1.2 million installs per month. The startup closed a USD 100 million Series C funding round, with a valuation close to USD 600 million in August 2021. It has annualized gross revenue of INR 70 Cr. and expects to turn profitable in the next 18-20 months.