Mcapital, Mswipe’s lending division, announced Tanya Chadha’s appointment as Chief Operating Officer today (COO). Tanya will be in charge of developing a loan book of INR 100 crore by March 2022, based on her 16 years of experience in financial services and credit.
Tanya’s employment comes as Mswipe prepares to apply for an NBFC licence. Mswipe will target the neglected SME category with access to formal financing through Mcapital, as India’s largest independent POS acquirer with 6.75 lakh POS and 11 lakh QR merchants.
Tanya will focus on boosting efforts toward technical innovation and driving the company’s new product strategy and growth now that she has joined the executive team.
Mswipe CEO Ketan Patel said, “We are building interesting solutions at Mcapital which will fasten the journey of SMEs in accessing formal credit. Tanya brings a wealth of experience in financial services and lending space and we are certain that she will play a pivotal role in our journey to transform into a digital SME bank.”
“SMEs are often faced with the challenge of accessing finance and this acts as an obstacle to start and grow a business. We want to enable them to scale up their business and help them reach their full potential. I am excited to be a part of the fantastic and dedicated team at Mcapitaland further accelerate innovation, ensuring compliance and drive organizational vision,” Tanya added on her new role.