Kapitus, the provider of financing for small and medium sized businesses in the United States, announced the expansion of its operations with the opening of its office in Chennai, India.
The expansion comes as part of a larger roadmap of company growth and denotes Kapitus’ commitment to delivering innovative, customizable business financing options, a statement said.
The 7,500 sq ft. office located along the Rajiv Gandhi IT Expressway in Perungudi, Chennai, opened on April 1, 2022 with nearly 100 employees. The India team provides application processing, credit analysis, data analytics, predictive modeling, and technology and finance support. Throughout 2022 Kapitus will be seeking top talent to join the team, with plans to hire an additional 20 new, full-time employees in India by year end, and an additional 30 new hires in 2023, the statement said.
“Kapitus is dedicated to helping small businesses grow by providing quick and efficient financing options that banks are unable or unwilling to offer. The Covid-19 pandemic, staffing shortages throughout the U.S., supply chain disruptions and inflation have combined to make fast and reliable small business financing even more critical,” said Ben Johnston, Chief Operating Officer at Kapitus. “Expansion of our workforce in India helps further this mission, while ensuring our ability to provide small businesses with critical financing throughout macroeconomic cycles.”
Murali Govindarajulu will be serving as Business Head of Kapitus India, leading the office in Chennai, working with Kapitus leadership in the United States to lead an India-based team with extensive experience scaling global operations.
“The small business financing industry is a dynamic ecosystem that is undergoing major technological transformation in both the United States and India,” said Govindarajulu. “It is an exciting time to be in the industry and I am delighted to be working alongside mission-oriented individuals in both countries who share a passion for innovating financing solutions for small businesses.”
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