Nikesh Kumar Sinha, who has been handling the medium enterprises in the SME vertical of Axis Bank has left the bank to join venture debt firm IntelleGrow as its CEO. IntelleGrow is managed by NBFC Jain Sons Finlease and it specializes in offering cashflow-based loans to SMEs and early-stage enterprises. Sinha takes over the position from Arun Diaz, who was serving as interim CEO after Akbar Khan had quit the firm. Diaz will continue as a senior advisor at the firm. Sinha has more than 21 years of experience in banking and finance. IntelleGrow offers loans to SMEs with ticket sizes ranging from Rs 5 million to Rs 10o million. Its target customers include fintech companies, early-stage startups and small non-banking financial companies including microfinance institutions.
