Singapore-based fintech firm, Validus, has made a significant leadership change with the appointment of Vineet Agarwal as the new CEO of Validus Capital in Singapore, effective from 1 August 2023. Vineet Agarwal will be taking over from Jayanta Roy, the outgoing CEO, who is retiring after an illustrious career spanning over three decades in the banking and financial services sector.
Vineet Agarwal joined Validus in January 2022, where he played a pivotal role in shaping the company’s digital financial services and payments strategy, leading product development, and spearheading go-to-market plans for the rollout of Validus’ full-suite SME financial services offering. The suite includes business accounts, corporate cards, local and cross-border payments, expense management solutions, and existing SME loan products. Prior to joining Validus, Vineet held various senior leadership roles at prestigious financial institutions such as DBS and American Express between 2008 and 2021.
Nikhilesh Goel, Co-founder and Group CEO of Validus, expressed his confidence in Vineet’s abilities and the potential for growth under his leadership. He stated, “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.”
Validus has been steadfast in its mission to support under-served SMEs in the Southeast Asia region, and the company’s efforts have yielded significant results. In 2022, Validus Group witnessed an impressive 80% year-on-year growth in its loan book compared to the previous year. Since its inception in 2015, the company has disbursed over USD 2.8 billion in loans to small businesses across Singapore, Indonesia, Vietnam, and Thailand.
The fintech firm boasts an impressive roster of strategic investors and venture capitalists who believe in its vision and potential. Backed by investors such as 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, Validus is well-positioned to continue its expansion and deliver financial services tailored to the unique needs of SMEs in the region.
The entire team at Validus extends their heartfelt gratitude to Jayanta Roy for his integral role in the company’s success over the past six years. They wish him fulfillment and success in his future endeavors.