Navi, a fintech startup founded by Sachin Bansal, on Friday announced a major organisational rejig, which will see Bansal step down as the CEO of Navi Technologies Limited and Navi Finserv Limited, and continue as the Executive Chairman of the Navi Group.
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While Rajiv Naresh is the new leader of Navi Technologies, Abhishek Dwivedi will helm Navi Finserv, the company said.
“Both Rajiv and Abhishek are part of the early founding team of the organization and have held various leadership roles within the Navi Group over the past six years,” a company statement read.
The statement described the restructuring as a ‘proactive strategy aimed at scaling operations and focusing on long-term growth.'
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Sachin Bansal, it added, will focus on the ‘long-term strategic vision,’ and explore expansion opportunities, steer fund-raising and M&A (mergers and acquisitions) efforts, and enhance compliance and risk management across the group.
‘Restructuring is a strategic milestone’
Bansal called the restructuring a ‘strategic milestone’ for the Navi Group.
{{/usCountry}}Bansal called the restructuring a ‘strategic milestone’ for the Navi Group.
{{/usCountry}}“It enables us to sharpen our focus on long-term growth. Both Rajiv and Abhishek have played key roles in our growth and I am confident that we will continue on this upward trajectory as they assume their new roles,” the release quoted Bansal as saying.
“Holding the position of Executive Chairman also allows me to dedicate my efforts to guiding the overall vision of Navi Group, while Rajiv and Abhishek will lead their respective businesses with a continued comitment to innovation and excellence,” he added.
Sachin Bansal founded Flipkart with Binny Bansal (no relation) in 2007, but exited the e-commerce giant ahead of its 2018 acquisition by Walmart. Months later, he founded Navi.