Ayush Khandelwal
Chartered Accountant
Bengaluru,KA
Summary
- Strategic finance leader with 10+ years in fintech-expert in navigating RBI, SEBI, NSE/BSE frameworks, leading audits, and fundraising across high-growth environments Key achievements include:
- Spearheaded fundraising initiatives of ₹90 cr across Series A/B/ Private placements which included:
- Created investor data packs & financial models for 15+ VC firms
- Drove cohort analytics and storytelling
- Closed FDD (Financial DD), DTDD (Direct tax DD), and IDTDD (Indirect Tax DD) processes
- Led 50+ audits (statutory, internal, regulatory: RBI, SEBI) ensuring high compliance and clean reporting.
- Built and launched a fintech tax product, Tax Insights, from idea to implementation, working cross- functionally with product, tech.
- Scaled Tax Insights to 500+ users and 135+ paying customers in under 60 days
- Navigating complex regulatory and tax compliance requirements, mitigating risks, and fostering sustainable operations.
- Built and scaled the entire finance function from scratch-set up SOPs, approval workflows, MIS, internal controls, and optimized working capital cycles.
- Worked closely with regulators including RBI, SEBI, NSE, BSE for licensing, compliance, and product approvals
Overview
12
12
years of professional experience
8
8
years of post-secondary education
Work History
Associate Director of Finance
Jiraaf
04.2024 - Current
- Spearheading equity and debt fundraising initiatives, including leading comprehensive due diligence processes (FDD, DTDD, and IDTDD) in collaboration with Big 4 firms.
- Leading the development and growth of 'Tax Insights,' an innovative tax advisory service providing personalized consultations to individual clients.
- Successfully delivered services to 1000+ clients, achieving a 70% conversion rate to paying customers.
- Spearheading the automation of the entire client journey to enhance efficiency, scalability, and user experience. Collaborating with cross-functional teams to optimize service delivery and market positioning.
- Driving the development and implementation of robust financial controls, ensuring seamless regulatory reporting, and addressing statutory, tax, and compliance requirements with precision.
- Leading book closures, financial analysis, and reviews, along with preparing and finalizing financial statements to ensure timely and accurate audit completion.
- Responsible for obtaining NBFC License including liaison with RBI, resolving queries.
Financial Controller
Jiraaf
04.2023 - 04.2024
- Developed and maintained robust investor relationships, establishing a transparent MIS reporting process for complete visibility to stakeholders.
- Responsible for obtaining OBPP License including liaison with SEBI, BSE and NSE.
- Streamlined accounting processes through technology integration, achieving a reduction of 16 days in the collection period and enhancing operational efficiency.
- Led end-to-end GST compliance, including input credit optimization, reconciliation across vendors and systems, monthly/annual return filings, and representation during GST audits and hearings.
Finance Manager
Jiraaf
07.2022 - 03.2023
- Designing and implementation of accounting process for the group entities including setting up of escrow accounts/payment gateways and integration of the same with the platform and training of the team for seamless adoption.
- Led the implementation of accounting software, overseeing the migration from Tally to Zoho Books for enhanced efficiency and streamlined operations.
- Successfully set up multiple processes for MIS and Budget management across functions, improving cross-functional collaboration.
Finance Manager
SmartCoin Financials
05.2020 - 10.2021
- Monitored budget, revenue and variance trends, regularly apprising management of company's financial standing.
- Preparation of 5 year budgeting plan along with financial reengineering of business processes.
- Automation of NPA provision calculation and interest accrual calculation, collaborating closely with the engineering team to integrate the solutions within the LMS.
- Filed periodic RBI returns (FLA, Annual Return) and responded to detailed RBI questionnaires and inspection queries.
- Set up processes and policies for NBFC operations aligned with RBI Master Directions, covering credit, KYC, risk management, reporting, and internal controls.
- Designed and delivered detailed MIS dashboards tracking financial and asset quality metrics such as GNPA, NNPA, CRAR, Slippage Ratio, and Provision Coverage Ratio, enabling early risk identification and regulatory alignment.
- Led ₹40 Cr debt raise from multiple lending partners (banks/NBFCs), managing end-to-end structuring, documentation, and disbursement.
- Monitored financial and operational covenants post-disbursal to ensure ongoing compliance and maintain lender confidence.
- Prepared multiple AUM analysis cuts based on geography, DPD buckets, and customer segments to support performance tracking and investor reporting.
Finance Manager
ClearTax India
05.2019 - 05.2020
- Prepared the business plan (B-Plan) for ITR vertical, including user funnel creation and forecasting ITR filing volumes across cohorts.
- Contributed to the development of GSTR-1 filing product, focusing on user experience and integration with common ERPs to simplify return filing.
Divisional Finance Manager
Fincare Small Finance Bank
12.2017 - 04.2019
- Led the implementation of IND AS, ensuring compliance and a smooth transition within the bank's financial framework.
- Spearheaded the RBI audit process, managing all audit activities and ensuring regulatory alignment, leading to the Bank obtaining Scheduled commercial Bank status.
- Played a key role in automation projects, driving efficiency and streamlining banking operations.
Finance Analyst
Ujjivan Small Finance Bank Limited
11.2016 - 10.2017
- Leading the statutory audit, involved in the tax planning, involved in the financial planning and analysis.
- Led end-to-end execution of a ₹1,500 Cr slum sale transaction, including deal structuring, tax planning, coordination with legal and regulatory advisors, and successful implementation.
- Led the closure of the Bank's first statutory audit in partnership with a Big 4 firm, ensuring complete audit readiness, documentation, and clean sign-off.
- Prepared and filed CRR and SLR returns for the Bank as per RBI norms, ensuring compliance while maintaining optimal liquidity.
Article Assistant
Salarpuria & Jajodia
08.2013 - 09.2016
Education
CA - Accounting and Finance
The Institute of Chartered Accountants of India
01.2012 - 01.2016
CMA - Costing
Institute of Cost Accountants of India
01.2015 - 01.2016
Bachelor of Commerce (B.Com.) - Accounting and Finance
University of Calcutta
01.2012 - 01.2015
Skills
Product Development
Timeline
Associate Director of Finance
Jiraaf
04.2024 - Current
Financial Controller
Jiraaf
04.2023 - 04.2024
Finance Manager
Jiraaf
07.2022 - 03.2023
Finance Manager
SmartCoin Financials
05.2020 - 10.2021
Finance Manager
ClearTax India
05.2019 - 05.2020
Divisional Finance Manager
Fincare Small Finance Bank
12.2017 - 04.2019
Finance Analyst
Ujjivan Small Finance Bank Limited
11.2016 - 10.2017
CMA - Costing
Institute of Cost Accountants of India
01.2015 - 01.2016
Article Assistant
Salarpuria & Jajodia
08.2013 - 09.2016
CA - Accounting and Finance
The Institute of Chartered Accountants of India
01.2012 - 01.2016
Bachelor of Commerce (B.Com.) - Accounting and Finance
University of Calcutta
01.2012 - 01.2015
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