Mehta joins the company from Hero FinCorp, where his last assignment was as chief business officer, leading the sales and credit teams for retail SME business lines. He has over 22 years of experience, working with leading players in the BFSI sector, and is an alumnus of the Indian Institute of Management (Lucknow) and National Institute of Technology (Kurukshetra).
In his new role as deputy CEO, he will focus on scaling up Ayeâs business and will implement strategies to further enhance the MSME lendersâ performance and capability.
âSamir adds further strength to our team, as we successfully negotiate the times of this economic disruption. His expertise in P&< management of large businesses and in scaling up lending to the SME segment will be very valuable as we emerge from this period,â said Sanjay Sharma, managing director of Aye Finance.
âAye provides much-needed financial services to Indiaâs micro scale informal businesses and the entrepreneurs who run them â a critical, but often overlooked and underserved, population. I am excited with the opportunity to work with an organisation that is fulfilling the promise of financial inclusion while delivering a return on investment for all its stakeholders,â said Mehta on his new appointment.
The lender has maintained adequate liquidity even during the economic disruption caused by the pandemic, closing its Series E equity round of Rs 210 cores in June, along with raising multiple debt lines from leading impact investors.