Edtech startup Byju's ropes in Vedanta executive Ajay Goel as CFO

Edtech firm Byju's has roped in Vedanta Group's Ajay Goel as its chief financial officer (CFO). This comes after more than a year since decacorn's previous CFO resigned.

PV Rao, the previous CFO of Byju's left the company in December 2021. The new CFO Goel joined from Vedanta where he was the Group Deputy CFO of Anil Agarwal's Vedanta Resources. Before Vedanta, Goel worked with the companies like Diageo, GE (General Electric), Coca-Cola, and Nestle.

Byju's has delayed its financial results for year ending March 31, 2022.

According to a statement, Goel will be responsible for the company's financial strategy and management. He will work closely with the founders and the senior leadership on strategy development, capital planning, and financial analysis.

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"With his extensive experience and diverse skill set, Ajay is the ideal candidate to take on the role of Chief Financial Officer as we continue to chart the course of sustainable growth in this exciting new phase. His strategic thinking and financial acumen will be instrumental in helping us create even more value for our stakeholders," said Byju Raveendran, co-founder, and CEO of Byju's.

Byju's is reportedly in the advanced stages to raise $250 million at a flat valuation (at $22 billion the company last announced) as it struggles to repay a $1.2 billion term loan and turn profitable in 2023.

The company was also in talks for a potential merger with Softbank-backed Unacademy, according to the media reports. However, later it denied the merger talks with the rival firm.

Meanwhile, Byju's is attempting to list tutoring services provider Aakash Educational Services on Indian stock exchanges with a $3–4 billion value.

ALSO READ: BYJU's, Aakash deny merger talks with rival Unacademy