Talathi, a former CFO for Pepperfry, Mensa Brands, and Vedanta Group, will lead the company’s finance function ahead of its scheduled IPO. Talathi succeeded Mayank Gupta, the Group’s CFO, in September 2021. Recently, the firm entered the tractor industry with Tractors Dekho, targeting India’s farming communities, while fintech arm Rupyy entered the personal lending space outside of vehicle loans.
Talathi brings over twenty years of experience in business transformation, financial planning and analysis, equity financing, corporate governance, and mergers and acquisitions.
Founded in 2008 by Amit Jain and Anurag Jain, CarDekho Group includes brands such as the automobile marketplace CarDekho, the insurance platform InsuranceDekho, the lending platform Rupyy, and the car rental platform Revv.
Talathi replaces Mayank Gupta, the group CFO since September 2021. Before this, He worked at the Mensa Group of Companies, Trendsutra Group (the parent company of Pepperfry.com), Vedanta (India), and Unilever (Global, Egypt, Asia-Africa & India).
In his new role as the Group CFO, Talathi will optimize capital allocation, enhance M&A activities, drive financial planning and analysis, and unlock new growth opportunities at the Group level.
His extensive experience navigating capital market volatilities, regulatory landscapes, and compliance requirements across geographies is expected to strengthen CarDekho’s position nationally and internationally.
Talathi’s appointment is also seen as a strategic move to bolster the Group’s progress towards a successful Initial Public Offering (IPO).
The Group said it has hired Talathi to strengthen its position in the national and international markets. Talathi is an expert in navigating capital market volatility, regulatory landscapes, and compliance requirements across geographies.
“It is impressive to witness how the CarDekho Group has sustained continued growth since its inception and changed the outlook of the auto and finance industry with its deep-rooted commitment to innovation and customer-centric solutions.
Joining them on their journey, I am excited to further strengthen our financial foundation, enhance customer value, and foster sustainable growth,” Talathi said.
CarDekho last raised funds at a valuation of $1.2 Bn and is backed by investors such as Peak XV Partners, Hillhouse Investment, CapitalG, Ratan Tata Trust, LeapFrog (an ESG-focused investment fund), HDFC Bank, ICICI Bank, and Axis Bank.
Recently, the company entered the tractor segment with TractorsDekho, targeting India’s farming communities, while fintech arm Rupyy entered the personal lending space beyond automobile loans.
In FY23, Cardekho Group’s consolidated revenue grew by 1.5X to INR 2,331 Cr, even though net loss rose marginally to INR 562 Cr from INR 535 Cr in FY22.
In a statement, CarDekho credited the increase to the growth seen by InsuranceDekho, Ruppy, its marketplace, and its financing business in Southeast Asia. Before Mensa Group, Neelesh held a leadership role at various leading companies, such as Trendsutra Group, the parent company of Pepperfry.com, Vedanta (India), and Unilever (Global, Egypt, Asia-Africa & India, etc.).
_image source : https://www.advertisingreporter.com/people-movement/cardekho-group-appoints-neelesh-talathi-as-group-cfo/
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