Bengaluru-based fintech startup CheQ has promoted two of its senior leaders, Bipin Toro and Vished Banger, as Co-Founders. The announcement comes after the company reported strong business growth, including its first full year of profitability and a sharp rise in revenue.
Both Toro and Banger have been part of CheQ since the company started in 2022. Their new roles recognise the work they have done in helping the company grow into one of India’s leading consumer credit platforms.
The move also reflects a growing trend among Indian startups, where companies are giving bigger leadership roles to trusted executives who have been part of the business from the beginning.
Bipin Toro and Vished Banger Get Bigger Leadership Roles
Bipin Toro has been promoted as Co-Founder and Chief Technology Officer (CTO). Earlier, he was leading CheQ’s engineering team. He played an important role in building the company’s technology platform and creating a strong engineering team that could support millions of users and new products.
Speaking about the future, Toro said he wants to use artificial intelligence (AI), data, and technology to make credit services more transparent, simple, and rewarding for Indian customers.
Vished Banger has become Co-Founder and Chief Business Officer (CBO). Over the past few years, he has handled CheQ’s business strategy, operations, finance, and partnerships. He helped build the systems needed to support the company’s fast growth.
Banger said the next phase for CheQ will be about balancing innovation with smooth operations so that the company can continue growing in a sustainable way.
Founder and CEO Aditya Soni said building a successful company is never the work of one person alone. He said both Toro and Banger have taken ownership from the early days, made important decisions, and helped shape the company’s culture. Instead of hiring leaders from outside, CheQ has chosen to recognise people who have grown with the company.
CheQ Reports Strong Financial Performance
The leadership announcement comes soon after CheQ achieved several important business milestones. The company completed its first full year of profitability in FY26, showing that its business model is becoming stronger.
CheQ has also crossed more than $40 million in annual recurring revenue (ARR), while its annualised revenue has gone beyond $42 million. These numbers show that the platform is attracting more users while also improving its financial performance.
Since its launch, CheQ has processed over $7 billion in credit card and utility bill payments. What started as a bill payment platform has now grown into a much larger financial services company.
The company’s lending business has crossed $150 million in loan disbursals, while wallet transactions have exceeded $250 million. Today, CheQ offers several services, including utility bill payments, UPI payments, personal loans, loans against mutual funds, wallet services, and the LED-enabled CheQ AU Credit Card.
This expansion shows that CheQ is no longer just a bill payment app. It is working to become a complete platform that offers multiple financial services to Indian consumers.
The Move Starts a Larger Discussion in the Startup Industry
CheQ’s decision comes at a time when many Indian startups are focusing more on profitability, better operations, and long-term growth. As startups become bigger, many are strengthening their leadership teams instead of depending only on their founders.
In 2026, several Indian startups have appointed new CEOs, CFOs, and other senior executives to prepare for their next stage of growth. Recognising experienced leaders has become an important part of this strategy.
At the same time, giving senior executives the title of “Co-Founder” has become a topic of debate in the startup industry.
Some experts believe that people who have played a major role in building a company deserve recognition, even if they joined after the company was officially founded. Giving them the Co-Founder title can also help companies retain talented leaders.
Others feel that the title should only be used for people who started the company from day one. They believe changing someone’s designation later does not change who originally founded the business.
Even with this debate, CheQ’s latest announcement shows that the company is placing its trust in leaders who have helped build the business over the years. With profitability achieved, revenue growing, and new financial products gaining popularity, CheQ now appears focused on strengthening its leadership team as it prepares for its next phase of growth.