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Friday, July 19, 2024

Financial Titans Unite: Finworks360 Advisory Board Welcomes Seasoned Veterans

In a strategic move set to fortify its position in the financial industry, Finworks360 proudly announces the induction of two distinguished financial veterans to its Advisory Board. The appointment of Mr. Sunil Behari Mathur (Former chairman of LIC ) and Mr. Pratip Chaudhuri ( Former chairman SBI ) signifies a momentous step for Finworks360, as it harnesses the wealth of expertise and strategic insight that these seasoned professionals bring to the table.

Finworks360, as a leading player in the Fintech space, offers groundbreaking invoice discounting solutions to MSMEs as well as investments opportunities to all kind of investors.

Having started business in 2021, the company has conducted business in excess of $55 million in a short span of time. This signifies the trust that Finworks360 has been able to generate with its investors and businesses.

Invoice discounting, a financial practice that allows businesses to unlock the cash tied up in their outstanding invoices, has long been hailed as a transformative tool for managing working capital.

Finworks360 combines finance and technology (FINTECH) and provides an invoice discounting platform where eligible MSMEs can raise instant funds by discounting their outstanding invoices. At the same time, investors get an opportunity to invest in invoices raised on blue chip companies and earn above-market returns.

A Wealth of Experience: Mr. S.B Mathur Joins the Ranks

Sunil Behari Mathur is a qualified Chartered Accountant. Mr. Mathur took over as Chairman of LIC at a time when the insurance sector had just opened up. Under his leadership, LIC successfully rose to the challenges of a competitive environment by enhancing product offerings.

Subsequently, he was also appointed as the Administrator of the Specified Undertaking of the Unit Trust of India (SUUTI) wherein he played a key role in repayment of investor’s hard-earned savings.

Visionary Leadership: Mr. Pratip Chaudhuri Joins Forces

Mr. Pratip Chaudhuri is a recognized leader renowned for their visionary contributions to the banking sector. With an illustrious career at State bank of India, where he served as Chairman, Mr. Pratip Chaudhuri played a pivotal role in steering the institution through transformative changes, particularly in the areas of Retail Banking, Corporate Banking, Treasury, etc. He was also the Chief Investment Officer at SBI Mutual Fund.

Sharing a seat on the Advisory Board with the luminaries is Mr. Gurvinder Singh who has 20+ years of experience working in leading Financial Institutions and Consultancies. In his earlier roles as Director – Strategy and Transaction Advisory at Ernest & Young India, he advised various Centre and State Government departments in infrastructure sector including, transport, energy, real estate, water, health and education.

Finworks360’s Managing Director & CEO- Mr. Jeewan Kumar, expressed enthusiasm about addition of the renowned financial stalwarts to the Advisory Board of Finworks360 and stated that the unparalleled expertise of the Advisory Board members in financial and investment domain will be invaluable for Finworks360 to navigate the challenging and evolving financial landscape in India.

Guidance of the Advisory Board will help Finworks360 in design and implementation of innovative financial and investment solutions aimed to provide liquidity to MSMEs to meet their working capital requirement.

Perspective from Advisory Board will provide much needing guidance to Finworks360 Management in meeting its ambitious growth targets of reaching an asset under management of USD 200 mn (Rs 1650 crore) and annual turnover of USD 800 mn (Rs. 6700 crore) in the next 2 to 3 years.

Industry Impact

As Finworks360 welcomes these financial wizards into its fold, the industry is abuzz with anticipation regarding the impact their collective experience and wisdom will have on the company’s strategic direction and overall success. The appointments not only underscore Finworks360’s commitment to excellence but also its ambition to position itself as a formidable player in the fintech space.

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