Balancehero India Private Limited (BHI), which runs and operates “True Balance”, (the RBI-authorised PPI issuing entity) and a holding company of True Credits (RBI Licensed NBFC), today announced the appointment of Sonia Chhabra Gupta as its Chief Business Officer (CBO) of True Credits Pvt. ltd.
Founded in 2016, as a mobile app for users in India to efficiently manage their phone calls and data usage, True Balance is now India’s one of the top financial services platforms providing solutions to all the financial needs of its users – from obtaining instant loans, paying utility bills to do prepaid recharges seamlessly. Staying true to its purpose of ‘Finance for All’ – True Balance is primarily focused on the Next Billion users in India who are either underbanked or, underserved by traditional financial institutions.
Commenting on her appointment, Sonia, CBO, Balancehero India, said- “I found the idea of ‘Finance for the next billion’ and of serving the financially underserved, especially in a country like ours, extremely compelling and exciting. While many people talk about it, very few companies have done it successfully. The way True Balance has been addressing this through technology, machine learning, and product innovation, gave me immense confidence to join the company. I am looking forward to my journey here and helping cater to the myriad needs of diverse segments through the new and interesting product offerings that are planned.
During a career spanning over two decades, Sonia held various leadership positions at ICICI Bank, Citibank & Clix Capital. She has straddled many cross-functional impact roles, across banking and finance sectors essentially covering domains of business development, strategy & innovation, liability & assets, payment solutions, wealth management, core banking, and digital lending and partnerships.
Sonia holds a distinguished academic background with a master’s degree in business administration from the Indian Institute of Foreign Trade (IIFT), New Delhi.
Opining on the appointment, Souparno Bagchi, COO, Balancehero India said, “At True Balance, we are at an inflection point to achieve the next level of exponential growth and further deepen our customer focus. Therefore, as we double down our efforts, I am excited to have Sonia as a part of our leadership team. I am certain that her vast experience and industry knowledge will be a tremendous boost for us to achieve our expansion plans.”
Balancehero India has adopted a multi-pronged strategy to accelerate its growth and to further build True Balance as a platform of choice for the users. A reflection of it has been in its remarkable achievement of the scale of disbursing more than 10,000 loans per day and robust financial performance of sustainable profit. This key leadership appointment will play a crucial role in driving the company’s expansion plans.