India: Debt markets platform, CredAvenue, today announced the appointment of Shubham Jain as the Chief Business Officer – Infrastructure & Real Estate. In his role, Shubham will be responsible for developing and managing a new debt platform catering to Infrastructure and Real estate entities. He will also oversee ramping up of CredAvenue’s new office at Gurgaon. Shubham’s appointment comes as an effort not just to expand CredAvenue’s presence in the northern region but also to diversify its offerings into newer sectors. He will be working closely with the Founder & CEO, Gaurav Kumar.
The dedicated Infrastructure and Real Estate focused platform will enable entities in these sectors to access capital from a diversified pool of investors/lenders efficiently. The long-term nature of project finance transactions, along with the high number of variables involved, makes the underwriting process more complex for the Infrastructure and Real Estate sectors. CredAvenue, through its new platform, will endeavour to provide high-quality data and research to the lenders, helping them take accurate underwriting decisions. Further, the fulfilment module of the platform will provide early warning signals, sector trends and policy level changes in order to assist the lenders in actively monitoring their exposures.
Having worked previously as the Group Head & Senior Vice President at ICRA Limited, Shubham brings nearly 16 years of experience in the credit rating space involving detailed risk analysis, project finance, corporate finance, estimating business valuations, and assessing management quality. At ICRA, he spearheaded a diversified portfolio including large and mid-corporates while leading key sectors including Real Estate, Construction, Infrastructure and Healthcare. Apart from handling an extensive portfolio of rating cases and research responsibility across sectors, Shubham has also been instrumental in guiding various structured rating assignments, including India’s first transaction based on IIFCL’s partial guarantee scheme, InviT structure ratings and ICRA’s first CMBS transaction.
Additionally, Shubham led the exercise for devising the new rating framework for the infrastructure sector in India under the aegis of the Department of Economic Affairs (MoF) in the year 2017. He has also played an essential role in assisting the “Atre Committee” formed by the Ministry of Defence to devise the criterion for selecting strategic partners from the private sector in critical segments like submarines, aircraft and missiles in the year 2018.
Speaking about the appointment, Gaurav Kumar, Founder and CEO, said, “CredAvenue has been a sector-agnostic platform so far. However, the Infrastructure and Real Estate sectors significantly differ from others regarding their financing needs and challenges. They also represent huge potential and growth opportunities for the economy. With the appointment of Shubham, we’ve taken a major step towards further propelling our ambition of acting as a GDP multiplier for the Indian economy. His expertise and wide experience will certainly aid in launching and scaling up this critical platform for the Infrastructure and Real Estate verticals. We are thrilled to have Shubham on board.”
“I joined at a time when CredAvenue raised $90 million in India’s biggest Series A funding round. This is exciting as well as challenging, and it pushes me to put in all my expertise to achieve new milestones through this new platform being solely designed for the Infrastructure and Real Estate sector. I am honoured to be a part of a highly talented team, and I hope that my contribution will contribute towards CredAvenue’s mission of deepening the debt markets in India,” said Shubham on his appointment.
CredAvenue recently raised $90 million in equity capital in a funding round. The company is currently developing new product capabilities alongside ramping up the platform’s technology and data science infrastructure to expand its lead in the market. The company has been heavily concentrating on acquiring domain-agnostic talent off late, across four cities in India – Chennai, Bangalore, Mumbai and New Delhi. The organisation is also adding new product lines to the overall platform and hence looking at leaders who can help take the platform to the next level.
An Electrical Engineer from Punjab Engineering College, Chandigarh, and an MBA from Management Development Institute, Gurgaon, Shubham is a frequent speaker on various industry forums on Real Estate, Construction and Infrastructure sectors. He has also authored several thought-provoking articles related to his domain.