MAM
CarDekho buys Zingwheels; Times Internet invests in Girnar
MUMBAI: In a bid to consolidate its position in the auto portals space, Girnar Software, which owns CarDekho.com & Gaadi.com, has acquired Zigwheels.com.
Additionally, Times Internet has come on board as an investor in Girnar Software along with Sequoia Capital, Hillhouse, Tybourne, Ratan Tata and HDFC Bank.
Zigwheels.com will operate independently within the Girnar Software umbrella.
“Having been a part of India’s leading and most respected media group, Zigwheels.com comes with a very strong content pedigree. This strategic acquisition reinforces our commitment to further enrich our content to enable us to engage even more deeply with our consumers. This also takes our market leadership to the next level in the digital auto vertical across visitors, dealer base and revenues,” said Girnar Software CEO Amit Jain.
“We are delighted to welcome Times as a new investor in our company and look forward to their support as we continue our journey and further consolidate our leadership in the online auto space,” added Jain.
“We see tremendous growth and value creation opportunities in the online auto industry in India and overseas. Girnar Soft, as the leader in this space, is best positioned to take advantage of this opportunity. We are excited to be partnering with an exceptional management team which has built great value and we are confident will continue to blaze trails in the years to come,” added Times Internet CEO Satyan Gajwani.
This is Girnar Software’s second acquisition. Last September, the company acquired the Nasper Group-owned Gaadi.com, to fortify its position in the digital used car segment.
The core business model of Girnar Software is earnings from lead generation for new and used cars, media sales on their portals, monetising the lifecycle of a car owner via CarBuddy app.
The company is also expanding across SE Asia, Africa, Middle East and South America.
The Rainmaker Group (TRMG) is the financial advisor to Girnar Software for the transaction.
MAM
Manappuram Finance appoints Sreekanth P V as group head – operations
22-year veteran from Bajaj Finance to drive efficiency and customer experience.
MUMBAI: Manappuram Finance just upgraded its operations engine because when customer delight needs turbocharging, even the gold loans get a smoother ride. Manappuram Finance Ltd has appointed industry veteran Sreekanth P V as group head for operations & customer experience at the grade of president. In his new role, Sreekanth will lead efforts to strengthen operational efficiency, enhance customer experience, streamline processes, drive service innovation and scale the company’s digital ecosystems across all business verticals.
Sreekanth brings over 22 years of experience in operations management, digital platforms, product innovation and customer experience within the financial services sector. Most recently he served as deputy executive vice president for digital platforms at Bajaj Finance Ltd, where he led the development of a unified app and web platform strategy and built a cohesive digital ecosystem.
Manappuram Finance, chairman and managing director V. P. Nandakumar said, “We are pleased to welcome Mr Sreekanth P V to the leadership team. He brings extensive experience in operations management, digital platforms and customer experience. As we continue to strengthen our operational capabilities and enhance customer engagement, his expertise will play an important role in driving efficiency, innovation and service excellence across the organisation.”
The appointment reflects Manappuram Finance’s ongoing focus on building a stronger leadership bench and elevating operational standards as the company scales its lending and customer engagement capabilities.
In a sector where every rupee counts twice, Sreekanth isn’t just joining the team, he’s the new conductor making sure the entire orchestra of loans, digital flows and customer smiles stays perfectly in tune.
