Supply-chain FinTech Founder and Ex-Kotak Mahindra Corporate Banker, Shantanu Bairagi Joins as CEO of Veefin Capital

The Veefin Group has announced the appointment of Mr. Shantanu Bairagi as the Chief Executive Officer of Veefin Capital Pvt Ltd, a subsidiary of the Group, focused on creating a new asset class out of supply chain finance which will benefit the borrowers, specifically MSMEs.

With over 20 years of experience in banking and finance, Mr. Bairagi brings a wealth of expertise to his new role, aimed at driving the company's growth and innovation.

Mr. Bairagi began his banking career with ICICI Bank, India's largest private sector bank, managing corporate coverage and setting up low-cost rural distribution channels. He then joined Kotak Mahindra Bank, playing a pivotal role in establishing its corporate banking practice, initiating relationships with large Indian conglomerates, and executing marquee deals in structured receivable finance and debt consolidation. At Abu Dhabi Commercial Bank (ADCB), he created the corporate banking franchise focused on the Indo-GCC corridor, significantly expanding ADCB's presence in India and facilitating international trade finance and cross-border funding.

In 2018, Mr. Bairagi co-founded a factoring NBFC and a supply chain advisory firm known for innovative funding structures in capital markets. The firm pioneered India's first covered Commercial Paper (CP) and the first Pass Through Certificate (PTC) They expanded its assets under management (AUM), securitized receivables, and significantly supported MSMEs.

Raja Debnath, Chairman of the Veefin Group, commented, "We proudly welcome Shantanu as the CEO of Veefin Capital Pvt Ltd. His vast experience and strategic vision in the banking and finance sector will be invaluable as we continue to innovate and expand our financial solutions. Shantanu's proven track record in driving growth and transformation aligns perfectly with our goals for Veefin Capital."

Shantanu Bairagi expressed his enthusiasm for the new role, stating, "I am honoured to join Veefin Group to lead its financing vertical and to be part of the Group's next chapter of growth. At Veefin Capital, we would leverage the Group's tech prowess and extensive client network to create innovative financial products like securitization of trade assets, thus creating a new asset class for Banks, FI and other debt capital participants."

Shares of Veefin Solutions Limited was last trading in BSE at Rs. 518.00 as compared to the previous close of Rs. 500.00. The total number of shares traded during the day was 153200 in over 278 trades.

The stock hit an intraday high of Rs. 525.00 and intraday low of 501.00. The net turnover during the day was Rs. 79448200.00.

Source : Equity Bulls

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