novio Announces Leadership Realignment to Drive Next Phase of Growth

Mumbai, August 2026: novio, India’s UPI-first fixed deposit credit card app, powered by Credilio Financial Technologies, today announced a leadership realignment across its core business functions as the company enters its next phase of growth. The changes bring sharper accountability and faster execution to each function, strengthening the organization as it scales.

With sharper focus across core functions, novio is strengthening its credit card business, scaling its UPI ecosystem and accelerating monetization.

The move follows novio’s recent ₹100 crore Series A funding round, which will support the company’s target of 50 lakh card issuances over the next three years. This growth will be fueled by deepening bank and NBFC partnerships, accelerating product development, and leveraging the novio UPI stack and AI-led credit advisory.

As per Aditya Gupta, Founder & CEO, novio “Building a consumer business requires a different orientation at the organizational level. As banking professionals, we have built and managed credit card businesses at various banks, and we will leverage those learnings to build a profitable credit card portfolio.

Our leadership team members have also worked at leading consumer companies across insurance and quick commerce. We have realigned responsibilities to ensure we seamlessly manage product development and growth. With clearly defined ownership across every major business function, we are building a stronger foundation for our next phase of expansion. This reaffirms our focus on making formal credit accessible to India’s underserved borrowers.”

Leadership Realignment

Product, Technology & People Strategy: Co-founder Sandeep Ghule will now oversee Product, Technology, and People Strategy, bringing the three functions under unified leadership. His focus will be on enhancing the app experience, deepening partnerships with banks and NBFCs, and building a high-performance culture to support the company’s scale-up.

Engineering: As part of the same realignment, novio has appointed Lakshaya Maheshwari, who joins from Zepto, as Head of Engineering. At Zepto, Lakshaya led engineering initiatives across frontend applications and backend platforms powering critical supply chain and warehouse operations, building scalable systems and technology solutions to support high-volume operations. At novio, he will oversee engineering strategy and execution across the organization, focusing on product engineering, platform scalability, engineering excellence, and building a strong technology foundation.

Finance & Analytics: Manish Sinha, Co-founder, will lead Finance and Analytics. He will also drive a data-first approach to decision-making and governance, while steering the company towards faster break-even through disciplined financial management and scale economics. Manish would also be leveraging his experience of working with large consumer credit companies and lead Credilio’s endeavors in lending.

Offline Sales and Partnerships: Anand Kapadia, Co-founder, will continue to lead the company’s legacy marketplace business, which will help novio partner with banks to distribute credit cards and loans, and lead offline sales and partner-led distribution for novio’s secured credit cards. His focus will be towards strengthening the company’s physical distribution network and increasing access to novio credit cards across India.

Technology: Chief Technology Officer Munjal Dhamecha will continue leading the company’s technology function, driving platform architecture, engineering excellence and the development of scalable backend and frontend systems. With increasing data velocity and volumes, he will additionally anchor the evolution of novio’s data architecture to enable faster decision-making while effectively leveraging structured and unstructured data.

Consumer Growth: Kartik Shanker will head the consumer business across all digital channels, leading customer acquisition, marketing and engagement for credit products as Chief Growth Officer. He will additionally be responsible for monetization and revenue growth while ensuring a consumer-first approach across the business.

About novio

novio is India’s UPI-first fixed deposit credit card app, powered by Credilio Financial Technologies. Designed for the next generation of Indian credit users – early jobbers, small business owners, students, gig workers and freelancers – novio enables everyone to access a premium RuPay credit card. With over 1 lakh active users across India and a target of 50 lakh cards in three years, novio is redefining credit access from metros to Tier 5 towns. Founded in 2020, novio is backed by Cornerstone Ventures, Exfinity Ventures, Shepherd’s Hill Private Equity, Mukul Agarwal, ESV-Arthya AIF and Roots Ventures, alongside venture debt from Innoven Capital and Alteria Capital. For more information, visit www.novio.in