Rahul Pakrashi, former Chief Risk Officer at Market Finance and Funding Circle, joins Cape
22nd of February, 2021
Cape, Australia, the financial technology company on a mission to help companies better manage their cashflow and get access flexible working capital, today announced the hire of Rahul Pakrashi as Chief Risk Officer, to lead their go-to-market risk function and future business credit line products as Cape gears up for launching their MVP in the coming months.
Pakrashi brings a wealth of experience that will greatly benefit Cape’s mission of tackling the $103 Billion working capital gap in Australia as they gear up to launch, including:
- Market Finance - leading one of Europe’s largest working capital specialists as their Chief Risk Officer, Pakrashi had a hands-on role overseeing the integration and management of the Barclays Bank partnership that was set up to provide the fintech’s products to the banks SME customer base when they couldn’t support them with access to credit.
- Funding Circle - having joined as the first risk hire in 2012, Pakrashi scaled the department to 30 ppl over a 6 year period. Internationalised their lending operations across the UK, Europe and US. As well as establishing their Machine Learning practice as the acting Global Head of Data Science alongside his Chief Risk Officer duties.
Rahul Pakrashi, Chief Risk Officer, commented:
“Given the impact of the pandemic, there’s never been a more pressing time to support Small Business owners in accessing much needed working capital.
Having started my career in the SME modelling team of American Express and then spending 6 years building Discover Financial Services Business Credit Card offering in the USA, I’m excited to join the Cape team right at the start of their journey, whilst getting the opportunity to get back to my roots with building a card proposition and bringing what I’ve learnt from embedding machine learning into alternative finance products to improve customer outcomes over the past decade.”
Ryan Edwards-Pritchard, CEO & Co-Founder, Cape, commented:
“As we gear up to launch, building out our risk framework and resilience is key. With decades of experience in the sector and an outstanding track record, Rahul’s appointment is a major coup in our continued mission to re-imagine the Corporate Card to make credit safe and honest, so that our customers can achieve more financial flexibility and peace of mind.”
Cape are re-inventing the Corporate Credit Card to help digital business owners gain control of their cash flow through their platform, encompassing three integrated core features: Revolving Line of Credit, a BNPL installment plan and expense management capability. Cape’s solution is built to help businesses unlock capital to invest into growth, whilst optimising cashflow to save on unnecessary expenditure and ensure financial runways go further.
Cape will be launching their MVP in early 2021. Founders, CFO’s & Accountants interested in learning more about the MVP Cape Business Credit Card should register their interest for the waitlist here www.hellocape.com.
Ryan Edwards-Pritchard, email@example.com, +61 (0)406 252 332