Natural fibre platform ReshaMandi, run by Shapos Services Pvt Ltd, on Friday said it has appointed Ritesh Kumar Talreja as its Chief Financial Officer (CFO) from March 21.
In his new role, Talreja will lead the company’s finance operations, where he will be responsible for corporate development from a debt raising and mergers and acquisitions (M&A) standpoint, the firm said in a statement.
“I will be working closely with the founders on significant areas like establishing an effective financial infrastructure, ensuring compliance, leading fundraising conversations, financial planning and analysis and cash flow tracking,” said Talreja.
Earlier, Talreja had worked at Ernst & Young Global Ltd (EY) for nine years, playing different roles such as consultant, senior consultant, director, before quitting the company in 2020 to lead the Indian law firm IndusLaw’s tax practice group as its Executive Director.
Talreja is also a part of the advocacy committee with the Indian Association of Alternative Investment Funds (IAAIF). He had also advised companies on international taxation matters, direct tax issues related to structuring cross-border transactions, among others, the statement added.
ReshaMandi digitises the silk supply chain and provides full-stack support including logistics, finance and scientific testing to stakeholders.
Recently, the startup ventured into direct-to-consumer (D2C) with its e-commerce platform ReshaWeaves.
Last month, VCCircle reported that ReshaMandi is in discussion with several global private equity and hedge funds to raise $100 million (around Rs 748 crore) and above at a valuation between $600million and $700 million.
In October 2021, the startup raised $30 million (approximately Rs 230 crore) as a part of its Series A funding round in an equity and debt mix led by global alternative investment manager Creation Investments.
VCCircle reported that Temasek-backed venture debt company InnoVen Capital invested in ReshaMandi in August 2021.
