Altico Capital India

Dec 17, 2021

Strengthens key leadership team ahead of next growth phase CASHe , India’s preferred AI-driven financial wellness platform with a mission to make financial inclusion possible to all, is prepping up for its next phase of growth with a series of key leadership appointments. To this effect, the company has appointed Joginder Rana as the Vice-Chairman & Managing Director, Dhruv Jain as Chief Executive Officer, while the incumbent Chief Technology Officer, Yashoraj Tyagi, has been appointed as the company’s first Chief Business Officer. Joginder Rana in his latest stint was the MD of Bank of Baroda Global Shared Services, a wholly owned subsidiary of Bank of Baroda. Operationally, CASHe has witnessed stellar growth in FY 21-22, with its record disbursals, customer acquisitions, top line growth, profitability and differentiated product offerings. The company has charted out a multi-pronged strategy to accelerate its growth to become the platform of choice for the country’s credit underserved millennials and Gen Z population while helping them fulfil their varied everyday financial needs. The key leadership appointments will play a crucial role in driving the company’s expansion plans. The new team will work closely with Joginder Rana to help CASHe realise its 3.0 vision of becoming the go-to financial platform for the millennial and Gen Z cohort. Joginder Rana, a veteran banker, joins as the Vice-Chairman and Managing Director of CASHe. Rana brings in over three decades of global and domestic experience in the banking & ITES industry essentially covering wholesale, retail, rural & FI banking. He has also held senior management positions in leading banks such as RBL Bank, and Citigroup in which he brought transformational changes to reshape their business strategy, technology architecture, processes and risk management. At Bank of Baroda Global Shared Services, Rana successfully created a state-of-the-art Global Shared Services Centre that helped in integrating and consolidating all the acquired banks to deliver an enhanced customer experience through digitized processes. At RBL Bank as its COO, he was responsible for transforming the bank’s key functions covering operations, technology, risk & governance and delivering the highest standard of service to all customer segments. During his tenure, RBL was recognized as India’s fastest & best-growing bank in the mid-sized segment. Rana holds a distinguished academic background as an all-India rank holder in CA, ICWA and CS. He is also a Certified Fraud Examiner (CFE) from the USA. Speaking on his appointment, Joginder Rana, said, “I am excited about joining CASHe, an incredibly well positioned company that can transform financial inclusion in an under penetrated and under serviced sector, using its unique and industry first credit rating and credit decision support algorithms and technology platform. Rapid adoption of digital financial products and evolving consumer preferences are strong drivers of growth in this sector and CASHe is well positioned to assume market leadership as a FinTech platform of choice. I look forward to contributing significantly to the company’s exponential growth journey.” Dhruv Jain  who joins as CASHe’s CEO brings over three decades of extensive experience in all facets of corporate finance, having worked with large domestic and multinational conglomerates. Most recently, he was MD – CFO with Altico Capital India Ltd., a NBFC, where he spearheaded the company’s critical finance functions, including raising debt capital for business growth. As a NBFC specialist, his core competencies include fund raising, syndication, corporate governance, risk management among others. Prior to Altico Capital, he held key leadership roles with India Infoline Group, CitiFinancial (part of Citigroup), Bharti Airtel, Kotak Securities and ITC’s financial services group. Jain is a Fellow Chartered Accountant & Licentiate Company Secretary. Speaking on his appointment, Jain said, “I am excited to join CASHe, as its vision and growth plans align with my passion for financial inclusion of all in a credit under-served environment. CASHe has a strong business model and I look forward to this leadership role to accelerate growth by expanding its balance sheet and increasing profitability. The Company is focused on growing aggressively and I am keen to lead CASHe and fuel its ambitious growth plans” Yashoraj Tyagi , the youngest CXO level team member, and the Chief Technology Officer has been appointed as the company’s first Chief Business Officer in addition to his current role as CTO. Tyagi joined the company in 2017 as a trainee engineer, straight from BITS Pilani and soon rose to become the CTO post his Masters in Financial Engineering from the University of California at Berkeley. His experience in data sciences/AI and product management will ensure that the company is at the forefront of innovation and excellence. His expanded role will focus on bringing out innovative financial products that are inclusive and expansive besides striving for tech and business focussed alliances that are key to CASHe’s long-term growth and success. Speaking on the leadership appointments, Raman Kumar, Founder Chairman, CASHe said, “We have been ramping up our efforts to piece together a best-in-class team to demystify credit and credit rating systems thereby making financial inclusion possible to all. The company is now in a position to make a better life for everyone by expanding its financial products to cover the entire gamut of needs of its customers. Joginder, Dhruv and Yashoraj supported by a young and talented team of professionals will catapult CASHe into becoming the financial platform of choice for all,” he added.