Lendingkart appoints ex-Paytm Payments Bank executive Mukund Barsagade as Group CFO

Lendingkart, an Ahmedabad-based fintech firm, announced on April 24, 2024, that Mukund Barsagade will take over as its Group Chief Financial Officer (CFO). 

The change follows Mukund's role as the CFO of Paytm Payments Bank, a position he left after the bank faced regulatory issues requiring it to wind down most of its services.

His extensive 28-year experience across the BFSI and IT sectors and previous roles in several prominent financial institutions positioned him as an apt choice for Lendingkart.

What roles will Barsagade undertake at Lendingkart?

In his new role, Mukund Barsagade will lead Lendingkart’s Finance, Capital Markets, Legal, and Secretarial functions. He will be responsible for steering the company’s growth phase and optimizing the leadership dynamics within the organization.

What did Barsagade say about his new role?

Mukund Barsagade expressed enthusiasm about his new position, emphasizing the promising opportunities in the lending tech space for MSMEs.

"The lending tech space for MSMEs is a fast-growing opportunity, and joining Lendingkart, which is a leader in the space, is extremely exciting. I look forward to working with the team, and together, we will surely aid in achieving the company’s goal of simplifying finances for MSMEs across the country," Barsagade said.

What does Lendingkart do?

Founded in 2014, Lendingkart has made significant strides in providing financial solutions to micro, small, and medium enterprises (MSMEs).

The firm extends working capital loans through co-lending partnerships with banks and its non-banking financial company. It has disbursed over 2.3 billion USD in loans, reaching over 4,100 cities across India. 

What did Lendingkart CEO say about Barsagade?

Harshvardhan Lunia, Founder and CEO of Lendingkart, praised Mukund Barsagade’s extensive experience and leadership qualities, stating, “Mukund’s deep financial and business experience, strategic acumen, and leadership qualities make him a vital addition to our team. He will be critical in helping to drive the step-up in Lendingkart’s performance that we are all determined to deliver. We look forward to working with him to deliver the action plan we have set out to drive our growth and realize our potential.”