New Delhi, September 25
Flipkart co-founder Sachin Bansal has picked up stake in Chaitanya Rural Intermediation Development Services (CRIDS) and has pumped in Rs 739 crore in the the NBFC.
Bansal, who has been an active investor in the Indian start-up ecosystem including companies like Ola and Bounce, will also assume the role of CEO at CRIDS.
“There will be a total infusion of Rs 739 crore from Sachin. He will assume the role of CEO of CRIDS...and will provide additional support to create further impetus to business growth... Both Samit Shetty and Anand Rao will continue in their respective roles of growing the existing business segments,” a statement said.
The various business units will continue to operate as they have and there will be no significant change in management, it added. Founded by Anand Rao and Samit Shetty, CRIDS provides credit access to under-banked population. — PTI
from The Tribune https://ift.tt/2nkN5OC
via Today’s News Headlines
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