P2P lender LenDenClub appoints AU Bank’s Ashish Jain as Chief Commercial Officer

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LenDenClub, RBI registered NBFC-P2P, India’s largest peer-to-peer lending platform, has announced the appointment of Ashish Jain as Chief Commercial Officer – Investments.

Ashish brings over two decades of market experience in various businesses such as FMCG, Mutual Funds and Banking in Product, Business Development and Sales to achieve the organizational goals.

At LenDenClub, Ashish would be responsible for enhancing the channel partner network that will help financial advisors provide alternative investment opportunities to allocate their clients’ assets. Additionally, expand key partnerships across the retail landscape to make LenDenClub’s P2P lending offerings more accessible.

Speaking on the appointment, Bhavin Patel, co-founder and CEO of LenDenClub, said, “We are aiming to reach $1 billion in loan disbursements this fiscal year. In the recent past, we have made some strategic appointments, and the addition of Ashish to the team reinforces our commitment and focus on our expected exponential growth. Given his expertise in leading digital transformation on the retail banking side, Ashish will not only help bring a fresh perspective to our core business strategies, but will be a key driver for the growth of I look forward to working. closely with him and I wish him all the best for the future.

Ashish has previously worked in some of India’s largest companies like ICICI Bank, Franklin Templeton and ICICI Prudential AMC across multiple geographies in Sales, Marketing & Distribution and Channel Management. His last stint was with AU Small Finance Bank, where he was responsible for the product and distribution of investment products and set up the investment practice from scratch. He was the mastermind behind setting up sales and distribution across geographies for major mutual fund houses.

Embarking on his fresh start, Ashish Jain, CBO – Investments, said, “Financial awareness and digitalization are growing exponentially in India, driven by the fintech revolution. LenDenClub is poised to make the most of this momentum and drive digital adoption of financial products through its innovative product offerings and I’m excited to be a huge part of this journey.

With record disbursements, customer additions, revenue growth, profitability and distinctive product offerings, LenDenClub delivered outstanding operational performance in FY21-22. The company has also developed a multi-pronged plan to accelerate its growth by being the go-to peer-to-peer lending platform for underserved investors and borrowers nationwide and helping them meet a variety of financial needs. LenDenClub in the recent past has selected Atal Agarwal as Head of Initiatives and New Strategy and Mudit Agarwal as Business Manager – New Business Initiatives. This crucial strategic appointment will drive the company’s growth objectives.

The company recently raised $10 million in a Series A funding round co-led by a consortium of investors including Tuscan Ventures, Ohm Stock Brokers and Artha Venture Fund.

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