Digital insurance platform RenewBuy on Thursday said it has onboarded Gautam Bansal as its new chief financial officer (CFO).
In his new role, Bansal will lead the company’s finance function, while providing strategic direction and leadership to the organisation.
He will also play an important role in making RenewBuy ready for IPO (initial public offering), the company said in a statement.
Earlier, Bansal was spearheading the finance department at Shiprocket. Prior to that, he was heading finance and accounts at Shuttl and has worked at IHG Hotels & Resorts.
He also worked at leadership levels with organizations like Ernst & Young (E&Y) and Macquarie.
Bansal holds an MBA in Finance and Management from the National University of Singapore and a master's degree from Shri Ram College of Commerce, in Commerce.
"We will capitalize on the strong brand value which RenewBuy has created in the market and work towards scaling up the business to the next level. I look forward to contributing my knowledge and experience gained in the last 20 years," said Bansal.
"He brings in a vast experience in financial management, along with strong strategic and leadership capabilities. He has also worked extensively across the start-up ecosystem, new age, high-growth tech platforms," said Balachander Sekhar, CEO, RenewBuy.
"His role will be crucial in driving the company’s business performance and growth, and his rich experience in financial technology will help us launch new strategic business initiatives," he added.
Founded in 2015 by Sekhar and Indraneel Chatterjee, RenewBuy is an insurtech company that provides health, life and motor insurance products, delivered through a network of POSP advisors.
The company claims to have about 70,000 POS partners and has insured more than three million customers across 750 cities and towns.
In 2015, the company raised Rs 3.3 crore (around $500,000) in an angel round of funding led by Mount Nathan Advisors Pte Ltd, a Singapore-based principal investment and advisory firm.
Last year, RenewBuy raised $45 million (approximately Rs 332 crore) as part of its Series C funding round. Recently, acquired Artivatic.ai, owned by Artivatic Data Labs Pvt. Ltd.
