Mandar Satpute who was working as was Vice President, Banking partnerships at ZestMoney, gets promoted to the role of Chief Banking Officer (CBO) and joins Harshit Jain, Chief Strategy Officer and Natalia Lyarskaya, Chief Data Officer as part of the senior leadership team to further accelerate the adoption of BNPL in India. He has been with the company for more than 4 years and began his stint as Head of Partnerships in 2017.

The appointment comes at a crucial time for the company when it is doubling down on its partnership with banks and NBFCs as demand for BNPL has increased by 5X on its platform. The company now partners with close to 25 banks and NBFCs to power affordability for its 11 million registered customers. 

Mandar is a career banker with more than 22 years of experience, having held senior positions at Citibank and TCS in diverse functions ranging from Relationships in Retail Banking, Corporate Banking, Sales & Business development to Financial Inclusion for PSU banks, Compliance and Audits. He has held leadership positions at Asian Paints and Philips Consumer Electronics. 

As he takes on the new role, he looks forward to working together and supporting to develop new product lines to offer to our lenders, while unlocking long-term value for our customers.

"With increased adoption of the BNPL financing option and the role of being an enabler for financial inclusion, I am excited to explore the new partnership opportunities presented by these themes," shared Mandar. 

Commenting on the announcement, Priya Sharma, CFO & COO, Co-founder, ZestMoney said, “We are delighted to have a person of Mandar Satpute’s stature who brings solid leadership experience in building and managing large teams and setting up strong systems driven organisations, as we scale our Ops set up."

Being one of the senior most members of the Zest leadership team and a strong pillar of support over the past four years, Mandar can play a critical role for company's success in the new phase of growth. As it looks to cater to the massive demand for BNPL, partnerships with banks/NBFCs will be key and Mandar's key role will be driving collaborations and fortify ZestMoney's position in the market.