mPokket – an Instant Loan App providing loans to college students and young working professionals – has announced the appointment of Sanjoy Kumar Agarwal as their new Chief Financial Officer (CFO). 

Sanjay will manage the financial operations at mPokket. He will be responsible for creating robust, iterative development plans for long-term strategy while resolving key financial issues. 

On Sanjay’s appointment, Gaurav Jalan, CEO & Founder- mPokket said “Having Sanjoy as part of our team, will greatly help us in the next phase of our growth as an organization. I am sure that with Sanjoy’s vast experience & expertise in the domain, will help revitalize strategies, introduce innovation, and facilitate solutions-driven team collaboration for us.”

Borrowers can avail loans ranging from Rs. 500 to Rs. 20,000 and the amount is sent via instant credit to either their bank account or Paytm wallet. mPokket’s business model is similar to credit card lending but it focuses on a segment who are ineligible for that but requires instant loans. The loan is credited to clients in sync with their Paytm accounts and executed on smartphones within seconds.

With over 19 years of experience, across companies like ICICI Bank, Srei Equipment Finance and Rupeek Capital, Sanjoy has a strong foundation in maintaining relationships with stakeholders, fund raising, financial planning, regulatory compliances, risk management, and process re-engineering. His contributions will be vital to the growth of mPokket and enable them to drive further growth.