Former President of IndiGo and OYO’s current board member Aditya Ghosh recently announced that he will be joining the Global Advisory Board of CreditEnable.
Announcing his appointment, Ghosh through a LinkedIn post also said that he has also made a personal investment in the company.
A transformational AI-driven SME credit business, CreditEnable also announced that it is ramping up its activities in India to help improve access to finance for SMEs during COVID19.
The firm is headquartered in the UK and has been operating in India since 2017 where it has been building a fully digital and curated marketplace for SME finance, where both lenders and borrowers benefit from reduced transaction costs, lower risk, better outcomes and faster deployment of capital.
CreditEnable’s marketplace is built on technology backed by predictive analytics, artificial intelligence and machine learning, and functions as the perfect bridge between SME lenders and borrowers. CreditEnable’s India marketplace currently caters to more than 20 leading lenders with ₹537bn ($70 billion) of loan books.
Commenting on the development, Nadia Sood, CEO and Founder of CreditEnable said, “In these difficult times, we have decided to ramp up our activities in India to cater to the increasing demand for finance from the SME sector. India was on track to become the world’s fourth largest economy prior to COVID19, with the biggest contributor to its GDP and exports being its SME segment. Lenders and borrowers in this segment are going to need support more than ever and we are well positioned to help them. Aditya has successfully grown category leading businesses in India, one of the world’s largest economies- and taken those businesses global. He is someone known for his strategic business thinking and has a deep rooted social conscience. We are delighted he has invested into the company and is joining our Global Advisory Board. Ensuring that Indian SMEs get access to affordable finance rapidly and that lenders can deploy capital quickly is more crucial now than ever and we are delighted that Aditya has joined us to help ramp up our activities.
On investing into the Company and joining CreditEnable’s Global Advisory Board, Aditya Ghosh said, “We are currently in unprecedented times, and small and medium enterprises across the globe are faced with one of the toughest business crisis. The entire process of accessing affordable credit easily and quickly, when SMEs need it, has always been one of the biggest pain points in their business journey. CreditEnable provides a secure, end-to-end and contactless experience in the SME lending space something that is critical given the current COVID situation.”
“I believe CreditEnable’s business model is best suited to help SMEs manage their finances, evaluate their business strategies, as well as assist lenders to better service customers through a contactless and cost effective digital platform. I am excited to be part of the company’s growth and continue to drive a positive impact amongst small businesses in India and eventually other international markets.”, Aditya added
Aditya joins the CreditEnable Global Advisory Board, comprising of industry titans such as Ishaat Hussain, former Tata Sons CFO, Abhijit Sen, former CFO Citi India, and former Chairman of Citicorp Services India along with current and former senior global executives from S&P, Barclays, Citibank, HSBC and JP Morgan, Sun Gard, and other leading global financial services firms.
Aditya, a lawyer by profession, worked at InterGlobe as a general counsel before becoming the President & Member of the Board of IndiGo. Over a 10 year period, Ghosh helped turn the company into India’s largest and most profitable airline. After his departure from IndiGo, Aditya became a senior adviser to the Tata Trusts, helping lead its cancer care initiative before taking on the role as CEO of OYO Hotels & Homes for India and South Asia. He is currently a Member of the Advisory Board of OYO Hotels & Homes, one of the world’s leading hospitality chains with a presence across 80 countries, and is also an investor with the VC firm, Fireside Ventures. Additionally, Aditya has also made several personal investments in early-stage companies.
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