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Hitachi’s Ramesh Srinivasan set to join BankBazaar as CFO

BankBazaar is on a recruitment drive with more than 130 new employees joining the company in FY2017-18

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Adhil Shetty, CEO, BankBazaar

BankBazaar, India’s leading paperless financial marketplace, announced that Ramesh Srinivasan will be joining the company as its new CFO. Ramesh comes with 22 years of experience in the Banking & Financial Services Industry (BFSI) segment and was earlier the Financial Advisor at Hitachi Payment Services.

Prior to his current role, Ramesh was Chief Financial Officer and was also in charge of business planning and strategy for BNA & CRM at Hitachi Payment Services. Ramesh has been a part of organizations such as AT&T‚ NCR, and Optimus. Ramesh would be based in Chennai and would be responsible for leading the company towards an IPO release.

Speaking on the appointment, Adhil Shetty, CEO, BankBazaar, said, “This is a very exciting time for BankBazaar. Our technology and paperless platform have made BankBazaar the flag-bearer in helping customers access the right financial products online in the safest and simplest manner. Now we are looking to consolidate our successes and plan ahead with an eye on releasing our IPO in 2020-22. We are confident that Ramesh's expertise in developing financial processes will take us further on our path.”

BankBazaar continues on an expansion mode at a time when most sectors and businesses are thinking of downsizing and cost-cutting. BankBazaar had previously announced that it would be recruiting 400 new employees.

Shetty added, “We are working on building bigger and more diverse team that can take on the challenges thrown up by next stage of the business cycle. This new team will drive the next phase of growth and profitability for BankBazaar. The expectations are high and so is our enthusiasm.”

BankBazaar has seen a remarkable growth in the last financial year. The company has made great strides in developing a paperless platform for a range of products, implementing the world’s first multi-brand platform for unsecured credit products such as personal loans and credit cards, along with paperless investment products.

The year 2016 saw BankBazaar’s expansion into the international market beginning with Singapore followed by Malaysia in 2017. BankBazaar is funded by global investors such as Walden International, Sequoia Capital, Fidelity Growth Partners, Mousse Partners and Amazon, and has received investment of &$ 80 million till date.