Mumbai-based integrated supply chain and finance platform Ayekart Fintech has appointed 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).
At Ayekart, Joshi will work towards the company's business strategy and driving its revenue growth. This move aligns with the company's aim to strengthen its leadership team, lead fintech empowerment for SMEs and MSMEs and drive innovation in business, it said in a statement.
"His extensive experience and proven skills in the financial technology industry will be instrumental in driving our company forward. His creative mindset and enthusiasm align perfectly with our vision for the future of Ayekart," said Debarshi Dutta, co-founder and chief executive of Ayekart.
Joshi, who has over 22 years of experience, will be based in Mumbai. Earlier, he was with Equitas Small Finance Bank, Yes Bank, ItzCash Card Ltd and Glodyne Technoserve Ltd.
Founded in December 2020, Ayekart raised around Rs 37 crore ($4.8 million) from Caspian Debt and Siply in a mix of debt and equity funding round in September last year. The startup had raised $750,000 in a seed funding round from a consortium of angel investors in October 2021.
The company has created an integrated supply chain and finance platform that 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. It also provides embedded finance and other services to its clients.
For the financial year ended 31 March 2023, the startup claimed that its gross traded value stood at more than Rs 650 crore. It serves in over 130 pincodes. Besides Mumbai, the startup has offices in Jaipur, Pune and Araku.
