BENGALURU, October 26, 2015 /PRNewswire/ --
- Mr. G. Ravishankar (Ravi) has Been Associated With CRISIL Since 1994 in Various Leadership Positions Including Head, Corporate Credit Ratings; CEO, CRIS INFAC and COO CRISIL GR&A
- Ravi's Association With Innoviti is a Strong Endorsement of the Corporate Governance Principles of the Company and its Preparation for a big Play in the SME Lending Space
- Innoviti is a Leader in the SME Lending Space With Rs. 400 Cr. Disbursed Annually to Over 24,000 SMEs
- Innoviti had Raised Rs. 30 Cr. in Series B Earlier this Year From Catamaran Ventures and New India Investment Corporation, Canada
Innoviti Payment Solutions, a leading provider of payment automation and credit distribution solutions, today announced the appointment of Mr. G. Ravishankar (Ravi) to Innoviti's Board of Directors.
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Ravi since 1994, has held a variety of leadership positions at CRISIL (a Standard & Poor's Company). His leadership roles include Head, Corporate Credit Ratings; CEO of CRIS INFAC (research subsidiary of CRISIL) and COO for CRISIL's GR&A business. In his most recent role, he was the President, Human Resources and Strategy, heading CRISIL's worldwide human resource and strategy functions. Ravi also served as a Director on the Board of CRIS Ltd. and Coalition Ltd UK, (both 100% subsidiaries of CRISIL).
Ravi will be guiding Rajeev Agrawal, Innoviti's MD & CEO, to help build a) a world-class credit analytics platform for Innoviti smelending.com product line and b) a best-in-class talented team of leaders to drive Innoviti's big play in the payments and SME lending space.
Innoviti had raised Series B financing of Rs. 30 crores in July 2015 from Catamaran Ventures, Bangalore and New India Investment Corporation, Canada. A key use of the funds was to expand the business of real-time distribution of credit to small and medium enterprises (SMEs). Innoviti is the leader in this segment, distributing 400 loans daily to 24,000 SMEs for an annual distribution of Rs. 400 cr. Innoviti in Sep 2015 had launched smelending.com that is focusing on a rapid expansion of this product.
Rajeev Agrawal, MD & CEO, Innoviti, said: "We are very excited to have Ravi join our Board at this juncture when we are preparing for a big play in the SME lending space. His extensive experience in credit ratings, financial research and analytics will help us create a strongly differentiated data-driven approach to reducing friction in the supply of credit. He will also be guiding our talent management strategy."
G. Ravishankar, Board Member, Innoviti, said: "I'm delighted to join the Innoviti Board. Innoviti has an extremely talented and high energy team that pioneered the payments space and is now geared to extend that experience to dramatically change the way small businesses access formal channels of funding. This will potentially open new growth avenues for the small businesses. The opportunity to make a difference to the small businesses, through smart use of technology is particularly exciting."
About Innoviti Payment Solutions Pvt. Ltd.
Innoviti Payment Solutions Pvt. Ltd. (formerly Innoviti Embedded Solutions Pvt. Ltd.) has been a pioneer in the use of technology to solve real-world payment acceptance problems of merchants. Using its indigenous developed technology and constant innovation, Innoviti has delivered differentiated solutions for payments automation, consumer credit distribution and SME lending that have become a benchmark in their markets. Innoviti processes over Rs. 8,000 cr. of payment transactions annually including Rs. 1000 cr. of credit. Innoviti's smelending.com is #1 in the segment of SME lending, processing over Rs 400 cr. per year. uniPAY is India's only omni-channel payment platform for managing payment automation. The company has won Deloitte Asia Pacific award three years in a row and Red Herring Asia award twice. Innoviti is backed by marquee investors such as Titan Company (JV between Tata Group and TIDCO), Catamaran Ventures and New India Investment Corporation, Canada.
For more information, visithttp://www.innoviti.com
Media Contact:
Sarath Chandra Nerella
[email protected]
+91-7795348478
Marketing Manager
Innoviti Payment Solutions Pvt. Ltd.
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