InCred Finance to name Gaurav Maheshwari as chief financial officer

KKR backed non-bank financial company InCred Financial has hired Gaurav Maheshwari, the chief financial officer of Standard Chartered Bank to head its finance department, people aware with the development said. Maheshwari who joined Standard Chartered in 2020 was earlier finance head at Altico Capital.

Prior to Maheshwari, Vivek Bansal was heading the finance vertical at the non-bank lender.

“InCred Finance is strengthening its leadership team and the recruitment of Maheshwari as chief financial officer is in line with those plans,” a person in the know said.

InCred Finance declined to comment on the appointment.

Maheshwari who was serving his second stint at the foreign lender, had earlier worked there for 17 years in various roles in the finance team. In his career spanning over 27 years, he has also worked with companies like Coca-Cola and Reuters.

Maheshwari did his Bachelor of Commerce from Sydenham College of Commerce and Economics and then completed his Chartered Accountancy.

InCred Financial Services, the lending arm of the InCred Group, was established in 2016 by Bhupinder Singh.

InCred Finance offers retail, MSME and education loans. The company turned unicorn in late 2023 and has a loan book of over Rs. 9,000 crore.

InCred’s equity investors are KKR, ADIA, OAKS, Investcorp, Moore Capital, Elevar Equity, Ranjan Pai, and Gaurav Dalmia, among others.