Jaipur-based Car Dekho Group has appointed Neelesh Talathi as group chief financial officer (CFO) in preparation for an initial public offering (IPO). Talathi, who previously held CFO roles at Pepperfry, Mensa Brands, and Vedanta Group, will oversee the company’s finance function as it gears up for its IPO. He replaces Mayank Gupta, who had served as CFO since September 2021.
Recently, CarDekho Group ventured into the tractor industry with Tractors Dekho, aimed at India’s farming communities, and expanded its fintech arm, Rupyy, into personal lending beyond vehicle loans.
With over 20 years of experience in corporate governance, equity financing, mergers and acquisitions, business transformation, and financial planning and analysis, Talathi is expected to enhance CarDekho’s presence in national and international markets. His expertise includes managing capital market volatility, navigating regulatory frameworks, and ensuring compliance across various geographies.
Talathi expressed his enthusiasm for joining CarDekho, highlighting the group’s consistent growth and its innovative, customer-centric approach in the auto and finance industries. “I am pleased to join them on this path to strengthen our financial foundation, improve customer value, and drive long-term growth,” he said.
Founded in 2008 by Amit and Anurag Jain, CarDekho Group includes the automobile marketplace CarDekho, insurance platform InsuranceDekho, financing platform Rupyy, and car rental platform Revv. The company, which last raised funds at a valuation of $1.2 billion, is backed by investors such as Peak XV Partners, Hillhouse Investment, CapitalG, Ratan Tata Trust, LeapFrog, HDFC Bank, ICICI Bank, and Axis Bank.
In FY23, CarDekho Group’s consolidated sales increased by 1.5 times to INR 2,331 crore, while its net loss slightly rose to INR 562 crore from INR 535 crore in FY22. The company attributed this growth to the expansion of InsuranceDekho, Rupyy, its marketplace, and finance operations in Southeast Asia.
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