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Veteran banker Atal Agarwal joins LenDenClub as Head - Initiative & New Strategies

2022-05-28 09:42:21 Business


Mumbai, 24 March, 2022: LenDenClub, India’s largest Peer-to-Peer Lending platform aiming to drive financial inclusion for all, has appointed Atal Agarwal as the Head Strategy & New Initiatives. The appointment is well calibrated to enable the organisation to cease every new opportunity that is present in its next growth phase. In this newly created position at LenDenClub, Atal will be part of the leadership team, and the board to help the organisation flourish and cultivate.

LenDenClub intends to broaden its brand portfolio and range of services, and Atal will spearhead this strategic drive.

Atal brings over three decades of experience in Investment Banking, Corporate Banking, and Credit Ratings to the board. For over 13 years as an Investment Banker, he held leadership positions with prominent brands such as DSP Merrill Lynch, Barclays Capital, and Jardine Fleming, among others. Atal has managed various disinvestment, capital raising, and advising activities, both debt and equity, in domestic and overseas markets for a diverse range of clients. He also held a senior management position at Crisil, taking a lead on sales and business development initiatives at a pan India level. Atal stems from a distinguished academic background, having earned an MBA from the prestigious IIM Calcutta and a B.Tech-Electronics Engg (Gold Medallist) from IIT Varanasi.

Speaking on the leadership appointment, Bhavin Patel, co-founder & CEO, LenDenClub, said, “LenDenClub aims to fill the gap and bring demographics together not covered by traditional credit-providing institutions. It will help create an ecosystem for people to meet their financial goals. The company is now in a position to make a better life for everyone by expanding its financial products to cover its customers’ entire gamut of needs. Atal is a dynamic professional capable of taking on a leadership role by using his extensive client connections and market expertise. With Atal’s addition, we will propel LenDenClub into the financial platform of choice.”

Speaking on his appointment, Atal Agarwal said, “I am honoured to join LenDenClub, an incredibly well-positioned company that strives to fulfill the demands that have been left unattended by others. Today it is the fastest-growing P2P lending platform in the country. Although Peer-to-Peer Lending is still relatively new in India, recently, there has been an accelerated traction from borrowers and investors. It is now the established alternative asset class that provides high risk-adjusted returns compared to traditional fixed income instruments for investors. It is a simple and convenient way for borrowers to get short-term loans. The P2P lending industry is expected to achieve a CAGR of over 20% during the next five years, reaching a size of over $10 billion. I am excited to make a meaningful contribution to the company’s exponential growth journey.”

During his 12 year tenancy with Financial Institutions Group (FIG) and Corporate Banking with Citibank, Royal Bank of Scotland, and DCB Bank, he was deeply involved in equity/debt capital markets, syndicated loans, club deals, and Banking transactions for a wide range of reputable clientele across domestic corporates, MNCs, PSUs, and banks/FIs. Including five magnificent years as India Head-Business Development, Ratings, at Crisil, India’s leading credit rating agency.

LenDenClub’s operational success has been stellar in FY 21-22, with record disbursements, customer acquisitions, top-line growth, profitability, and differentiated product offerings. The company has crafted a multi-pronged strategy to accelerate its growth by becoming the preferred Peer-to-Peer Lending platform for the country’s underserved investors and borrowers and assisting them with their diverse everyday financial needs. This critical strategic appointment will be essential in driving the company’s growth objectives.

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

About LenDenClub:

LenDenClub is a leading Peer-to-Peer Lending platform that provides an alternate investment opportunity to investors or lenders looking for high returns with creditworthy borrowers looking for short term personal loans. With 1 million+ investors on board, LenDenClub has become a go-to platform to earn returns in the range of 10%-12%. LenDenClub offers investors a convenient medium to browse thousands of borrower profiles to achieve better returns than traditional asset classes. Moreover, LenDenClub is safeguarded by market volatility and inflation. LenDenClub provides a great way to diversify your investment portfolio.

Additionally, with more than 2.5 million+ borrowers, InstaMoney, its borrowing platform has disbursed over Rs. 2,000 crores of loans to date. It offers instant personal loans to salaried individuals with flexible loan tenure. The platform aims to foster financial inclusion by leveraging technology to support borrowers with hassle-free loans, even in the remotest parts of the country. InstaMoney also provides small merchant loans of up to Rs. 1,50,000 to borrowers who are into SME business. Through InstaMoney’s partnership with merchants, Instamoney also extends the popular service of Buy Now Pay Later to the end consumers or shoppers.

Company :-Adfactors PR

User :- Greeshma Nachane



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