SmartPaddle Technology Pvt Ltd, which owns a business-to-business platform Bizongo, has announced many top-level appointments to its leadersip team. These include appoinetments of former American Express executive Gaurav Singhania as chief financial officer (CFO), and ex-Amazon Pay executive Amol Wanjari as chief technology and product officer (CTPO).
The announcement was made amid reports that the Mumbai-based soonicorn filed a complaint against an employee for misappropriation of funds and saw its CFO of four years leave. According to The Morning Context, the company’s finance department is also going through a reshuffle.
Bizongo also said it is expanding two of its business verticals into separate businesses, each to be led by its own chief executive officer (CEO).
Kiran Dev, an ex-banker who has previously worked with Standard Chartered bank in her two-decade career, will lead startup’s the supply chain financing arm BizongoFin as its CEO.
Meanwhile Cleartrip’s former chief business officer Prahlad Krishnamurthi will take over BizongoBuy, a marketplace for small and medium businesses to buy raw materials.
“We have attained a high growth momentum across our digital platforms for integrated raw material buying, and embedded supply chain financing,” said Sachin Agrawal, co-founder and chief executive of Bizongo, in a statement.
“With the addition of Kiran, Prahlad, Gaurav, and Amol, we are bringing in leaders with diverse and complementary skill sets that will significantly contribute to Bizongo’s vision of bringing technology to businesses in simple and meaningful ways to make Business on-the-go,” he added.
The startup last raised a $50 million as a part of its Series E funding round in October 2023. Led by Zurich-based private equity firm Schroder Adveq, the deal valued Bizongo at about $980 million. Previously, it raised $25 million from Liquidity Group’s Mars Growth Capital in August in 2022.
The company had raised Rs 825 crore ($110 million) in its Series D round, led by New York-based Tiger Global Management in December 2021.
The company also counts Accel, International Finance Corp, Chiratae Ventures, B Capital and British International Investment among its investors.
