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Bizongo Announces New Appointments for CEO, CTPO, and CFO Roles Across New Verticals

• ByStartupStory     |    September 17, 2024

B2B ecommerce platform Bizongo is enhancing its strategic leadership with the appointment of new chief executive officers (CEOs) for its raw material marketplace, BizongoBuy, and its embedded supply chain finance platform, BizongoFin. This move is part of the company’s broader effort to fuel its growth and optimize its financial operations.

Kiran Dev has been appointed as the CEO of BizongoFin. With over 19 years of experience in leadership roles at Disprz and Standard Chartered Bank, Kiran will focus on addressing the $300 billion+ unmet SME credit needs. He will lead BizongoFin in delivering flow-based financing through the platform’s multi-financial institution network. Kiran’s extensive experience positions him well to drive BizongoFin’s mission of providing tailored financial solutions to SMEs.

Prahlad Krishnamurthi is set to lead BizongoBuy, the company’s B2B marketplace for raw materials. Prahlad, who brings over two decades of experience from Cleartrip, Flipkart, Infosys, and ITC Group, will oversee efforts to ensure the reliable and cost-effective delivery of raw materials to SMEs. His leadership is expected to enhance the efficiency and effectiveness of BizongoBuy’s marketplace.

In addition to these appointments, Bizongo has named Gaurav Singhania as the Chief Financial Officer at the group level. With over 20 years of experience from American Express and LendingKart, Gaurav’s financial acumen will be instrumental in refining Bizongo’s financial processes and controls as the company prepares for its initial public offering (IPO).

Amol Wanjari has been appointed as Chief Technology and Product Officer. Amol, with more than two decades of experience including leadership roles at Amazon and Acko, will focus on delivering a seamless ecommerce experience to Indian SMEs through Bizongo’s digital platforms.

Founded in 2015 by IIT graduates Aniket Deb, Sachin Agrawal, and Ankit Tomar, Bizongo began as a packaging solutions provider and has since expanded to offer software-based vendor management services, supply-chain automation, and financing solutions.

The company recently raised about $50 million in a Series E funding round led by Zurich-based private equity firm Schroder Adveq, with additional participation from International Finance Corp, Chiratae Ventures, B Capital, and British International Investment. Bizongo aims to achieve profit before tax by the end of FY24.

Despite a substantial increase in operating revenue, Bizongo’s consolidated net loss more than doubled to INR 291.6 crore in FY23 from INR 106.8 crore in the previous fiscal year, impacted by a significant rise in certain expense categories.

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