CredAble has named chief operating officer Ashutosh Taparia as the CEO of its fintech business as the company expands its working capital tech solutions and structured trade programmes.
In his new role, Taparia will spearhead the growth of CredAble’s AI-powered working capital infrastructure across banking and structured trade, including bolstering its supply chain finance platforms and improving bank relationships.
Under his leadership, CredAble will “continue to build on its existing momentum of enabling over US$21bn in working capital financing” while targeting US$50bn in cumulative financing “in the coming years”, it said.
A key focus area will be the expansion of structured trade programmes, where the company enables over US$2bn annually.
Taparia will also be responsible for scaling the firm’s presence across Europe, the US, Asia Pacific and the Middle East, CredAble said.
He will also lead the next phase of AI innovation across CredAble’s fintech platforms, focusing on credit underwriting and risk analytics.
Earlier this year, the fintech joined forces with Citi to digitise trade finance controls and electronic invoice validation across its global markets.
Mumbai-based Taparia has been with the company for over five years, most recently leading its enterprise and trade businesses in the COO role.
Prior to that, he spent more than a decade at HSBC, where he led global trade and receivables finance for large corporates and multinational clients in southern India.
The leadership shake-up will see Taparia report to the former CEO of CredAble’s fintech division, co-founder Nirav Choksi, who is taking on the role of chairman, overseeing the company’s overall strategic direction.
CredAble’s two business lines include the global fintech business and the regulated non-banking financial company (NBFC) operating in India only, which provides working capital loans to small businesses.
The NBFC arm of the firm will continue to be led by co-founder and managing director, Ram Kewalramani.
Taparia’s previous remit is being shared among internal leadership while the “right long-term fit for the role” is assessed, according to CredAble.
The recent leadership changes follow CredAble’s appointment of former Citi director Andrew Betts as board advisor and chief growth officer for Europe and the Americas in June last year.
