Talathi, a former CFO for Pepperfry, Mensa Brands, and Vedanta Group, will lead the company’s finance function ahead of its scheduled IPO. Talathi succeeds Mayank Gupta, who was the group’s CFO from September 2021. Recently, the firm entered the tractor industry with Tractors Dekho, targeting India’s farming communities, while fintech arm Rupyy entered the personal lending space outside of vehicle loans.
Car Dekho Group, based in Jaipur, has appointed Neelesh Talathi as group chief financial officer (CFO) in preparation for an initial public offering (IPO).
Neelesh has over 20 years’ experience in corporate governance, equity financing, mergers and acquisitions, business transformation, and financial planning and analysis.
Talathi, a former CFO of Pepperfry, Mensa Brands, and Vedanta Group, would be in charge of financial planning and analysis, capital allocation, mergers and acquisitions (M&A), and identifying new growth possibilities at the group level.
CarDekho Group, founded in 2008 by Amit and Anurag Jain, operates several companies, including the automobile marketplace CarDekho, the insurance platform InsuranceDekho, the financing platform Rupyy, and the car rental platform Revv.
Talathi succeeds Mayank Gupta, who has been the group’s CFO since September 2021.
The group stated that it has hired Talathi to expand its presence in the national and international markets by leveraging his experience managing capital market volatility, regulatory frameworks, and compliance requirements across geographies.
“It is impressive to see how the [CarDekho] Group has maintained consistent growth since its inception, changing the outlook of the auto and finance industries with its deep commitment to innovation and customer-centric solutions.” I am pleased to join them on this path to strengthen our financial foundation, improve customer value, and drive long-term growth,” Talathi said in a statement.
CarDekho last raised money at a valuation of $1.2 billion and is backed by investors including Peak XV Partners, Hillhouse Investment, CapitalG, Ratan Tata Trust, LeapFrog (ESG-focused investment firm), HDFC Bank, ICICI Bank, and Axis Bank.
The company recently entered the tractor industry with Tractors Dekho, which targets India’s farming communities, while fintech arm Rupyy expanded into personal financing beyond vehicle loans.
Cardekho Group’s consolidated sales increased by 1.5X in FY23 to INR 2,331 Cr, but the net loss increased marginally to INR 562 Cr from INR 535 Cr in FY22.
In a statement, CarDekho attributed the increase to the expansion of InsuranceDekho, Ruppy, its marketplace, and finance operations in Southeast Asia.
