Sachin Bansal, the co-founder of Flipkart is planning to take hold a major stake in a Bengaluru-based microfinance firm. Mr. Bansal stated he is expected to pick up as much as 75 percent stake in Chaitanya Rural Intermediation Development Services, which runs a microfinance institution, Chaitanya India Fin Credit (CIFCPL).
Bansal is looking forward to aiming his actions at the intersection of technology and user experiences in the banking domain.
Through this deal, it will be Bansal's first equity investment in the financial services space. Once the transaction is done, he may take up the role of the company’s CEO.