Neobanking startup StashFin on Wednesday said it has appointed Priyadarshi Dutta as its chief risk officer (CRO).
In his new role, Dutta will manage and mitigate risk while ensuring governance, which is expected to drive Stashfin's growth, the company said in a statement.
Earlier, Dutta was the senior vice president and head of credit card risk at RBL Bank, where he oversaw credit card risk management. Prior to that, he was the vice president and chief risk officer at American Express, where he managed credit and operational risk oversight for India and other businesses.
Dutta brings over 18 years of experience, including portfolio management, mitigating operational risk, and setting up second-line defence functions. He has also held managerial roles at EXL Service, Essex Lake Group, and HSBC. He holds a Master's degree in Economics from the Delhi School of Economics.
"Given my experience of working with global brands for close to two decades, and now an opportunity to be associated with an attractive and growing brand like Stashfin offers me a truly unique perspective to leverage my skills in an entrepreneurial environment," said Dutta.
The announcement comes just after over a month of Stashfin’s $100 million (around Rs 800 crore) raise in a debt funding round from InnoVen Capital and Trifecta Capital as well as a host of domestic lenders.
Tushar Aggarwal, founder and chief executive at Stashfin, said that Dutta's experience in overseeing financial operations and managing risk will be crucial in the company's growth and expansion, enabling it to realize its mission of providing access to credit for underserved segments.
StashFin, founded in 2016 by Aggarwal, Parikshit Chitalkar and Shruti Aggarwal, helps customers improve their financial health by offering flexibility and affordable interest rates.
The company has a presence in seven other cities across India and has raised close to $345 million across five funding rounds. Last year, it appointed former MD and CEO of SBI Cards, Vijay Jasuja, as a non-executive independent director.
The startup's rating was also upgraded to BBB (Stable) / A3+ for its group company Akara Capital Advisors Private Limited (ACAPL) by ICRA.