NBFC firm FincFriends appoints Vishal Bhatia as its new CFO after raising over Rs 40 crore

FincFriends, the captive non-banking financial company (NBFC) of the digital lending platform RupeeRedee, has announced the appointment of Vishal Bhatia as Chief Financial Officer (CFO).

Advertisment

His appointment is aimed at strengthening the fintech company’s financial planning, strategy and compliance across NBFC operations. The appointment comes after the firm raised Rs 41.5 crore in debt funding last week.

Vishal possesses more than 20 years of experience in the financial service, lending and fintech sector and is recognised for his notable stints at Balancehero India, PayU and others.

At FincFriends, he will be responsible for enhancing cost efficiencies and implementing robust financial controls with growth targets. He will also play an instrumental role in overseeing investor relations, budgeting, audit readiness and capital structuring to support expansion.

Artem Andreev of FincFriends said, “Vishal’s appointment comes at a pivotal juncture as we scale our operations and strengthen our financial infrastructure. His deep expertise in financial strategy and compliance will significantly help in driving sustainable growth, enhancing investor confidence and supporting our mission to bring inclusive credit access to underserved markets across India.”

Vishal Bhatia, the new CFO of FincFriends said, “I am excited to join FincFriends at such a dynamic phase of its growth journey. I look forward to contributing to the company’s strategic goals by building a strong financial foundation and ensuring robust governance across all functions as we expand into newer markets.”

Founded in 2017, FincFriends is actively scaling its presence across Tier 2 and Tier 3 cities to meet the surging demand for accessible and affordable credit in India. The firm is building deeper partnerships, strengthening its risk assessment frameworks and streamlining processes through technology-led solutions. 

It aims to strengthen its balance sheet, improve internal reporting frameworks for faster, insight-driven decision-making and uphold the highest standards of asset quality and compliance. Additionally, it looks forward to expanding credit offerings, optimising disbursal processes and reducing NPAs.