Propelld, a leader in digital education lending in India, today announced that financial industry veteran M. V. Nair has joined its board as a Director. M. V. Nair has been a key figure in India's financial services industry for more than four decades, having held several key positions in pioneering companies as an operator, advisor, board member, and investor.
Mr. Nair serves as the Non-Executive Chairman of KFin Technologies Limited, India's premier registrar and a leader in investor servicing, which recently debuted on the public market in December 2022. He extends his expertise as an advisor to TransUnion LLC, a preeminent global credit reporting agency, building upon his significant tenure as Chairman of Transunion CIBIL, India's largest Credit Bureau, for more than a decade. Additionally, he lends his advisory acumen to a select portfolio of private equity and venture-backed firms.
In his illustrious career, Mr. Nair has assumed pivotal roles across prominent financial institutions, notably as Chairman and Managing Director of Union Bank of India and Dena Bank, as well as Chairman of SWIFT India Domestic Services Private Limited and the Indian Banks' Association. His vast experience includes membership in various committees under the Ministry of Finance, Reserve Bank of India, Confederation of Indian Industry, and FICCI, focusing on banking and financial services. Currently, he contributes to the advisory committee of the Insolvency and Bankruptcy Board of India (IBBI) and the International Financial Services Centres Authority (IFSCA), further testament to his extensive expertise and leadership in the financial domain.
"We look forward to learning from Mr M. V. Nair's extensive expertise and deep insights to support our mission to democratize access to education. He has been instrumental in shaping fintech companies such as CIBIL and KFin, and leading several systematically critical financial services institutions. We aspire to build Propelld into a pioneering institution that transforms access to education through financing. Mr Nair's expertise will help us build Propelld on a strong foundation of industry-leading governance and compliance, strengthen our company strategy, and deepen our relationships across the industry" said Bibhu Prasad Das, Founder and CEO, of Propelld.
"Propelld belongs to a generation of fintech players that are revolutionizing the industry through strong fundamentals, innovation, and customer-focused solutions. I look forward to contributing to this momentum" said M. V. Nair.
Edgrow, a wholly-owned subsidiary of Propelld, has recently received an NBFC license.
Propelld was founded in 2018 by the dynamic trio of Bibhu Prasad Das, Victor Senapaty, and Brijesh Samantaray. It was the first to introduce innovative education loan financing solutions such as Study Now and Pay Later products as well as Income Sharing Agreements. The company has a first-mover advantage in the education loan segment and has gone beyond traditional credit assessment techniques to launch collateral-free education financing.