Mumbai-based integrated supply chain and finance platform Ayekart Fintech has appointed former Hiranandani Group executive, Kunjal Thackar as co-founder and chief financial officer.
Thackar's appointment comes a little over a month after Ayekart hired Easy Pay’s co-founder and chief executive officer Vaibhav Joshi in the capacities of a co-founder, chief business officer and global head at BFSI (banking, financial services and insurance) in May last month.
The company said in a statement that its latest move is aimed towards strengthening its leadership team, lead fintech empowerment for SMEs and MSMEs and drive innovation in business.
With over 25 years of experience in companies, including Western Concessions Limited (Hiranandani Group), Pipeline Infrastructure Limited (A Brookfield Company), Gujarat Gas Limited, BG, Hindustan Petroleum Corporation Limited, Kunjal brings expertise in optimizing fiscal health, implementing robust governance processes and driving strategic growth initiatives, the statement added.
Founded in December 2020, Ayekart operates an integrated supply chain and finance platform. It looks to solve the challenges faced by SMEs and MSME as well as retail businesses that have struggled to be a part of the digitized supply chain.
The company raised around Rs 37 crore (around $5 million) from Caspian Debt and Siply in a mix of debt and equity funding round in September last year. It has also bagged $750,000 in a seed funding round from a consortium of angel investors in October 2021.
In the financial year ending on 31 March, 2023, the startup reported a gross traded value exceeding Rs 650 crore. Operating across more than 130 pincodes, the startup has offices in Jaipur, Pune, and Araku.
“Kunjal's leadership will be instrumental in positioning Ayekart as a prominent player in the fintech sector and expanding into new markets,” said Debarshi Dutta, co-founder and chief executive at Ayekart.
“By focusing on initiatives such as fundraising, IPO planning, solidifying robust governance processes and securing more cost-efficient financing, I aim to position Ayekart as a frontrunner in the financial technology sector and drive its expansion objectives," said Thackar.