- Vineet previously held the role of President, Payments at Validus, where he led the successful roll-out of Validus’ all-in-one SME financial services offering with business account, corporate cards, and local and cross-border payments in Singapore
- Validus Group has disbursed over USD 2.8 billion in loans across the region, and has grown its loan book by 80% in 2022 compared to the previous year
SINGAPORE, 31 July 2023 – Validus, Southeast Asia’s leading all-in-one SME business account and financing platform, today announced the appointment of Vineet Agarwal as CEO of Validus Capital in Singapore, effective 1 August 2023. Vineet replaces Jayanta Roy, the outgoing CEO of Validus Capital Singapore, who is retiring after an accomplished career of over three decades in banking and financial services.
Vineet joined Validus in January 2022, where he led the digital financial services and payments strategy, product development and go-to-market plans for the roll-out of Validus’ full-suite SME financial services offering, which includes business accounts, corporate cards, local and cross-border payments, and expense management solutions, in addition to its existing SME loan products. Prior to joining Validus in 2022, Vineet held various senior leadership roles at DBS and American Express from 2008 to 2021.
Nikhilesh Goel, Co-founder and Group CEO of Validus says, “With Vineet at the helm as the new CEO for Validus Capital Singapore, Validus is well-placed to enter the next stage of growth with an innovative approach fueled by strategic partnerships, embedded finance, alternative data, and AI-driven data analytics, and further cement our market leading position in Singapore. We would also like to take the opportunity to extend our sincere appreciation and gratitude to Jayanta, who has been an integral part of our success in the past six years, and we wish him fulfillment and success in his future endeavours.”
The company continues to scale its support for under-served SMEs across the region, with Validus Group growing its loan book year-on-year by 80% in 2022 compared to the previous year.
Since its establishment in 2015, Validus has disbursed over USD 2.8 billion in loans to small businesses in Singapore, Indonesia, Vietnam, and Thailand. The company is backed by strategic investors and VCs, including Vertex Ventures Southeast Asia and India, Vertex Growth, FMO, NongHyup Financial Group, Norinchukin Bank, Aizawa Asset Management, Lotte F&L, AddVentures by SCG, VinaCapital Ventures, SEA Frontier Fund, K3 Ventures, and Openspace Ventures.
Appendix – Vineet’s Biography
Vineet Agarwal is a digital product development and payments expert with more than 17 years of experience in driving digital and data strategies across markets in the Asia-Pacific region with DBS and American Express.
Prior to joining Validus, Vineet was Executive Director, Regional Analytics, Consumer Banking Group and Wealth Management at DBS, where he drove the use of Business Analytics, AI and Machine Learning to solve business challenges across Consumer and Private Banking, and deployed several AI solutions in the region to drive business growth.
At American Express, he drove growth in eCommerce spend via several virtual payment products, a cross-border e-commerce solution and a fully digital mobile loyalty solution.
About Validus Group
Validus Group (“Validus”) is the leading all-in-one SME financing platform in Southeast Asia today, changing the way small businesses grow through effortless access to the finance solutions they need. Validus drives financial inclusion and prosperity for small businesses by leveraging data, AI, and strategic supply chain partnerships to drive growth financing to the under-served SME sector – resulting in faster and simpler one-stop financial solutions that increase customers’ productivity and cost savings. Validus’ SME-focused, full-suite business finance offering includes loans, business accounts, corporate cards, payments, and expense management. To date, Validus has disbursed more than USD 2.8 billion1 in loans to small businesses across Southeast Asia.
Founded in 2015 to address the unmet financing needs of SMEs, Validus is headquartered in Singapore and is growing rapidly across its four markets – Indonesia, Singapore, Thailand and Vietnam. In Singapore, Validus holds a Capital Markets Services License from the Monetary Authority of Singapore (MAS). Batumbu (Validus Indonesia) is licensed by Otoritas Jasa Keuangan (OJK) in Indonesia, and Siam Validus is licensed by Securities Exchange Commission (SEC) in Thailand. For more information, please visit validus.sg.
1 Figures are as of July 31, 2023
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