Talathi, a former CFO at Pepperfry, Mensa Brands and Vedanta Group, will lead the company’s financial function ahead of its planned IPO
Talathi replaces Mayank Gupta, who was the group CFO since September 2021
Recently, the company entered the tractor segment with TractorsDekho, targeting India’s farming communities, while fintech arm Rupyy entered into the personal lending space beyond automobile loans
Jaipur-based cardekho
Group, the parent company of automobile marketplace CarDekho and insurance aggregator Insurance Dekho has appointed Neelesh Talathi as group chief financial officer (CFO) in preparation for an initial public offering (IPO).
Talathi, a former CFO at Pepperfry, Mensa Brands and Vedanta Group, will be responsible for financial planning and analysis, optimising capital allocation, driving mergers and acquisitions (M&A) activities and bringing new growth opportunities at the group level.
Founded in 2008 by Amit Jain and Anurag Jain, CarDekho Group includes brands such as automobile marketplace CarDekho, insurance platform InsuranceDekho, lending platform Rupyy and car rental platform Revv.
Talathi replaces Mayank Gupta, who was the group CFO since September 2021.
The group said it has roped in Talathi to strengthen its position in the national and international market through his expertise in navigating capital market volatilities, regulatory landscapes, and compliance requirements across geographies.
“It is impressive to witness how the [CarDekho] Group has sustained continued growth since its inception and changed the outlook of the auto and finance industry with its deep-rooted commitment to innovation and customer-centric solutions. Joining them on their journey, I am excited to further strengthen our financial foundation, enhance customer value, and foster sustainable growth,” Talathi said in a statement.
CarDekho last raised funds at a valuation of $1.2 Bn and is backed by investors such as Peak XV Partners, Hillhouse Investment, CapitalG, Ratan Tata Trust, LeapFrog (ESG-focused investment fund), HDFC Bank, ICICI Bank, and Axis Bank amongst others.
Recently, the company entered the tractor segment with TractorsDekho, targeting India’s farming communities, while fintech arm Rupyy entered into the personal lending space beyond automobile loans.
In FY23, Cardekho Group’s consolidated revenue grew by 1.5X to INR 2,331 Cr, even though net loss rose marginally to INR 562 Cr from INR 535 Cr in FY22.
In a statement, CarDekho credited the increase to the growth seen by InsuranceDekho, Ruppy, its marketplace and financing business in Southeast Asia.
Cofounder and CEO Amit Jain earlier told Inc42 that the company aims to achieve more than 60% revenue growth YoY in FY24.
