Singapore-based Finaxar today announced that it has made several key senior appointments, strengthening its leadership team as it eyes regional growth.
Finaxar provides its award-winning Lending-as-a-Service™ to financial institutions, Business-to-Business (B2B) and Business-to-Consumer (B2C) platforms using data-driven methods to provide fast, tailored financing solutions for Small and Medium Enterprises (SMEs). Rakesh Bhatia brings almost 30 years of banking experience with HSBC and has taken an executive role as the Chair of Finaxar’s Executive Committee; Sonford Yuen who was formerly the Executive Director, Head of Enterprise Banking Credit, Risk Management Group at DBS Bank (Hong Kong) is now Finaxar’s Group Chief Risk Officer and Country Head - Hong Kong. Finally, Mohd Ridzwan Nordin who was previously a Venture Partner at Monk’s Hill Ventures and a Vice President at Khazanah Nasional Berhad, has come onboard as Country Head of Malaysia.
“We are pleased to welcome these extremely experienced and talented individuals to our team. Each of them brings a thorough understanding of, and most importantly, proven experience in all aspects of SME financing. It continues to be a pleasure working with them,” said Dr. Tan Sian Wee, Co-Founder and Executive Director of Finaxar.
As the Chair of Finaxar’s Executive Committee, Rakesh Bhatia will be overseeing Finaxar’s strategic and business execution in an executive role. Rakesh has amassed almost 30 years of banking experience with HSBC across Asia, UK and the Middle East, most notably as Global Head of Trade Finance and CEO of Indonesia, prior to helming an independent Private Bank in India. As a veteran in the banking industry and a fintech insider for the past three years, Rakesh brings unparalleled insights and operational depth in all aspects of SME financing and longstanding relationships with financial institutions globally. “Coming from a finance and banking background, I am excited to join Finaxar, a firm that is disrupting the SME lending industry. I look forward to nurturing the firm and assisting its growth plans within the region,” said Rakesh.
Sonford Yuen has assumed responsibilities as the Group Chief Risk Officer and Country Head - Hong Kong. He is spearheading the development of Finaxar’s risk strategies and overseeing the implementation of risk policies throughout all the geographies that the group covers, managing them operationally. Sonford brings nearly two decades of banking experience with major banks such as DBS in Hong Kong where he was the Executive Director, Head of Enterprise Banking Credit, Risk Management Group and HSBC in Hong Kong, where he was Head of Balance Sheet (Risk & Capital) Management, Commercial Banking, Asia Pacific. “There is definitely an appetite for technology-driven financing solutions within Hong Kong and ASEAN. I am excited to propel Finaxar’s growth to be a major fintech player,” commented Sonford.
Mohd Ridzwan Nordin (Reez) has been appointed as the Country Head of Malaysia. Reez was most recently a Venture Partner at Monk’s Hill Ventures (‘MHV’), a leading early-stage tech venture capital firm in Southeast Asia prior to joining Finaxar - one of MHV’s’ portfolio companies. He was also a Vice President at Malaysia’s sovereign wealth fund Khazanah Nasional Berhad where he focused on the fund’s Innovation and Technology portfolio. “I believe that Finaxar has the ability to grow and secure a very strong foothold in Malaysia using their unique approach. I am excited to spearhead the company’s growth in Malaysia and to contribute to Finaxar’s regional development in all aspects,” said Reez.