The great migration: More bankers join well-funded fintechs

The great migration: More bankers join well-funded fintechs

author-image

Pratik Bhakta

171 reads
author-image

Pratik Bhakta

171 reads

A growing number of bankers and professionals from large corporations are moving to fintechs expanding at a rapid clip. The shift provides them a genuine wealth-creation opportunity, while the startups get vital guidance on regulatory pitfalls

December 17, 2021

5 MINS READ

Venture capitalists are not the only ones rushing to link up with fintechs. Senior bankers are also trooping in, loosening their neckties to embrace the startup spirit.

The news: Nilufer Mullanfiroze has joined Bengaluru-based wealth-tech unicorn Groww as the head of banking in perhaps one of the most interesting executive movements in recent times. 

She left Kerala-headquartered private lender Federal Bank, where she was the country head for deposits, cards, wealth and insurance.

Slice, another fintech unicorn, has brought in Sandeep Mhatre, who was previously a group executive vice-president at Yes Bank, leading its digital efforts. Slice founder Rajan Bajaj confirmed the move, adding that Mhatre would steer new initiatives in payments and banking. 

Recently, Mumbai-based digital payments firm MSwipe hired Rohit Agrawal as the chief executive of its lending business, MCapital. Before this role, Agrawal spent 15 years at Kotak Mahindra Bank and was the national head for ecommerce and new-age business there.

Why is this significant? Startups have been attracting talent from the top rungs of established companies for some time now. Such shifts have also happened in the specialised area of finance, but not at the frequency we see now. Having bankers in the team can be beneficial for fintechs in multiple ways.

Read this article for free

Sign in using

Or

Sign in using your email

Don't have an account?

Forgot Password?

By signing up for The CapTable you agree to the

Terms of Service

and

Privacy Policy

of the platform.

Smart Information, Better Decisions

We report on the latest and most important developments in India’s biggest tech companies and disruptive startups so you can make better decisions.

Inside View with Org Charts

Know the key decision-makers with Org Charts. We thrive on decoding boardroom conversations so we can bring you a 360° view of what's happening at India's high-growth companies.

Seasoned Team

Tracking the highs and lows of India’s biggest internet companies over the past decade has given us access to the right decision-makers to interpret the latest state of play.

Inside View

We thrive on inside scoops and decoding boardroom conversations so we can bring you a 360° view of what’s happening at India’s high-growth companies.

share-button
like-button
share-button

For subscribers only

Premium Reads

>>

View More >>

Deeply reported and objective news on the country´s fastest-growing companies and the people behind them.