Prior to its initial public offering (IPO), the Jaipur-based CarDekho Group selected Neelesh Talathi as its chief financial officer (CFO).
Neelesh Talathi has been named group chief financial officer (CFO) by Jaipur-based CarDekho Group ahead of its initial public offering (IPO). As the company prepares for its IPO, Talathi, a former CFO of Pepperfry, Mensa Brands, and Vedanta Group, will be in charge of the finance department. Mayank Gupta, who had been CFO since September 2021, is replaced by him.
The CarDekho Group has extended its fintech subsidiary, Rupyy, into personal financing beyond auto loans and entered the tractor market with Tractors Dekho, a product geared towards India’s farming communities.
Talathi is expected to improve CarDekho’s position in both domestic and international markets because of her more than 20 years of experience in corporate governance, equity financing, mergers and acquisitions, business transformation, and financial planning and analysis.
His skills include handling the volatility of the capital markets, negotiating regulatory environments, and guaranteeing compliance in different regions.
Talathi conveyed his excitement about joining CarDekho by praising the company’s steady expansion and creative, client-focused strategy in the car and finance sectors. He remarked, “I’m happy to be joining them on this journey to fortify our financial foundation, enhance customer value, and spur long-term growth.”
The CarDekho Group, established in 2008 by Amit and Anurag Jain, consists of the car marketplace CarDekho, the insurance platform InsuranceDekho, the financing platform Rupyy, and the vehicle rental platform Revv. The business is supported by investors including Peak XV Partners, Hillhouse Investment, CapitalG, Ratan Tata Trust, LeapFrog, HDFC Bank, ICICI Bank, and Axis Bank. It previously raised capital at a valuation of $1.2 billion.
The CarDekho Group’s net loss climbed marginally from INR 535 crore in FY22 to INR 562 crore in FY23, despite a 1.5-fold growth in consolidated sales to INR 2,331 crore. The company attributed its rise to the development of its marketplace, InsuranceDekho, Rupyy, and financial activities throughout Southeast Asia.
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