The new CPO, Nihit Nirmal, joined late last year and is responsible for product management, product design and driving the company's digital growth. Mr Nirmal was senior vice-president and head of product management and growth at Indian digital lending platform LendingKart.
Funding Societies said Mr Nirmal's experience in digital lending has been"critical" for the startup's next phase of growth across new South-east Asian markets. The peer-to-peer lending platform said it has, in the past five years, disbursed over S$1.6 billion in financing through more than 2.8 million loans across Singapore, Malaysia and Indonesia.
Funding Societies co-founder and group chief executive Kelvin Teo added that the startup has steered through the Covid-19 outbreak with"relative success", and its financial results have recovered to near pre-Covid levels. The fintech is part of a consortium led by Hong Kong's AMTD Group vying for a digital wholesale bank licence in Singapore. The other partners in the consortium are Xiaomi and Singapore utilities provider SP Group.For daily updates on weekdays and specially selected content for the weekend. Subscribe to
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