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
Fund Raising
Audit and compliance
Regulatory Coordination
Profit and Loss Management
ERP implementation
Internal Control
Financial forecast model development
Tax compliance
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