In a key strategic reshuffling, Validus Capital, a frontrunner in SME financing, has announced the appointment of Vineet Agarwal as the new CEO for its Singapore operations, effective from August 1.
Agarwal, a seasoned executive with a proven track record at the firm, was previously the president of payments at Validus Capital. During his tenure, he spearheaded the rollout of the company’s financial services offerings specifically designed for small and medium enterprises (SMEs) in Singapore. These included business accounts, corporate cards, and both local and international payment options.
Agarwal is set to take the reins from Jayanta Roy, who is stepping down after a successful tenure.
Established in 2015, Validus Capital has made a name for itself by offering comprehensive financial solutions to SMEs. Its portfolio of services includes SME loans, business accounts, corporate cards, and a robust payments and expense management system.
In a recent statement, Nikhilesh Goel, Validus Group CEO, expressed confidence that the new appointment will give a significant boost to the firm’s next phase of growth. He elaborated that an innovative approach driven by strategic partnerships, embedded finance, alternative data, and AI-driven data analytics will be at the core of this growth trajectory.
2022 proved to be a banner year for Validus Group, the parent company of Validus Capital. The firm recorded an impressive 80% uptick in its loan book compared to the previous year, extending over US$2.8 billion in loans to SMEs in Singapore, Indonesia, Vietnam, and Thailand since its inception.
This news story is based on an article published on techinasia.com.