Faircent appoints Shakti Goel as product, tech head

16 Sep, 2016

Peer-to-peer lending startup, run by Fairassets Technologies India Pvt. Ltd, has appointed Shakti Goel as its chief of product and technology.

In his last appointment, Goel was the chief technology officer of Aakash Educational Services Pvt. Ltd, an education firm. He is a doctorate from Massachusetts Institute of Technology and an IIT Delhi graduate. He has previously worked with companies such as Oracle Corp, Fidelity, Raytheon, State Street Corp and HCL Infosystems.

"Shakti is a good fit and is someone who has years of overseas experience and brings deep management and technical expertise to help us navigate going forward," said Vinay Mathews, chief operating officer and co-founder of Faircent, in a statement.

Faircent was founded in 2013 by Mathews, Rajat Gandhi and Nitin Gupta. Prior to co-founding Faircent, Mathews had served as country head of sales and service delivery at Timesjobs. Gupta has previously worked at senior positions at MasterCard, GE Capital and and was a non-executive co-founder of LetsBuy, an electronics e-tailer that was acquired by Flipkart in 2012.

In May this year, financial services firm JM Financial Ltd, through its subsidiary JM Financial Products Ltd, picked up a 9.84% stake in Faircent.

Prior to that, it raised an undisclosed amount of funding from Aarin Capital Partners, which is run by former Infosys CFO TV Mohandas Pai and Manipal Group's Ranjan Pai (not related to each other) in October.

Faircent competes with companies such as ePayLater and Goalwise in the P2P lending segment.

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