Sun. Mar 3rd, 2024

Narayanan Kannan CEO of Indipaisa

Noida (Uttar Pradesh) [India], March 18: Nexxo Ventures, Asia’s fast growing digital banking venture firm, today announces the appointment of Narayanan Kannan, as the CEO of its Indian subsidiary Indipaisa with immediate effect.

Kannan has been the first employee of the Dubai-based Nexxo Ventures and has been a driving force behind setting up the innovation centre of Middle East based Fintech, and then the launch of Indipaisa as its CIO.

Commenting on Kannan’s appointment as CEO, Nebil Ben Aissa , Founder of Nexxo Ventures, said: “We are delighted to appoint Narayanan Kannan as the CEO of Indipaisa with immediate effect. Ever since the launch, Indipaisa’s growth has been impressive under Kannan’s leadership. We are confident that with the new leadership, Indipaisa is looking towards a bright future with renewed confidence.”

Echoing Nebil’s sentiments, Gunnar Skoog, COO of Nexxo Ventures, said: “Kannan has a strong record of nearly two decades of global experience in the Fintech industry. He has a strong track record of executing business turnarounds that has been the highlight of Nexxo’s growth story in Middle East. We believe Kannan is the right person to lead Indipaisa’s growth story at this transformative time in the industry.”

An elated Kannan said: “I would like to thank the Nexxo Ventures management team for giving me the privilege and honour to lead this dynamic organisation. Ever since its launch, Indipaisa has relentless in digitising India’s MSMEs. As we move forward, we will offer a wide suite of full-stack digital banking solutions that would script a new growth story for India’s MSMEs.”

Indipaisa was launched in 2021 with an aim to offer MSMEs customized end-to-end digital banking solutions. Indipaisa is already live and operational in Delhi/NCR, Uttar Pradesh, Maharashtra, and Karnataka and now plans to further expand into other states by next year.

Indipaisa empowers small businesses with its financing tools like the all-in-one smart POS, e-commerce and e-billing, payroll, insurance, lending, and tax filing, which are key for all MSMEs. Indipaisa solutions are built keeping in mind the needs of local businesses.

The Noida-based fintech brand has already opened an innovation centre in Bengaluru and plans to open another office in Mumbai as it doubles up on its efforts to reach out to the MSMEs pan-India.

Indipaisa uses an AI & ML powered lending platform that makes finding the most suitable loan facility faster for MSMEs. The team behind Indipaisa represents a combination of more than 200 years of experience in various sectors in fintech, digital banking, IT security & compliance.

Ever since the launch, Indipaisa has partnered with the local payments bank, technology partners, insurance, and loan providers to introduce various digital banking financial services and products to deploy a FinTech platform that empower India’s MSMEs. It is also a part of the Indian Government and RBI’s digitized payments drive.

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