New Delhi, Nov. 17 -- Namdev Finvest, which is backed by Danish private equity firm Maj Invest and development finance institution British International Investment (BII) among others, has appointed former ICICI Bank executive Sahil Taneja as its chief business officer.
Taneja has over 25 years of experience across MSME lending, retail assets, branch banking, agri finance, and priority sector lending, among other segments, Namdev said in a statement.
Prior to joining Namdev, Taneja served as the zonal head at Karnataka Bank. He has also served as the business head of Finova Capital and has been instrumental in expanding business operations and strengthening customer-focused strategies.
Namdev Finvest said that the latest appointment will serve as the company's next phase of growth.
"Taneja's proven track record in scaling businesses and his deep understanding of MSME and retail financing align perfectly with our mission of enabling financial inclusion across Bharat," said Jitendra Tanwar, CEO of Namdev Finvest.
Founded by Tanwar in 2013, Namdev Finvest focusses on lending to micro, small and medium-sized enterprises (MSME). The Jaipur-based company's assets under management rose to Rs 1,417 crore as on March 31 from Rs 1,181 crore a year earlier.
Currently, around 90% of Namdev Finvest's portfolio comprises secured MSME loans, whereas the remaining 10% is made up of two-wheeler loans and loans extended to green and renewable segments.
The company's net profit rose to nearly Rs 41 crore in FY25 from Rs 21 crore the year before. Its interest income rose nearly 63% to Rs 317 crore in FY25, the company's latest financial disclosure showed.
The gross non-performing asset (GNPA) ratio rose to 1.8% as on March 31 from 1.1% a year ago.
In July, Namdev Finvest received $20 million (around Rs 174 crore) in funding from the Dutch development bank FMO via a rupee-denominated senior secured debt facility.
Published by HT Digital Content Services with permission from VC Circle.