Paraag Davé appointed finova CEO

After seven years of investment in the business and serving as Executive Chairman, Paraag Davé has been appointed as CEO of finova. Paraag’s tenure has been instrumental in leading a successful exit for Norland Capital, securing Bain Capital Tech Opportunities’ investment and uniting finova with MSO into a single entity. 

In addition, Rowan Clayton has been appointed as Chief Product Officer (CPO), strengthening finova’s senior leadership team as the company continues its growth strategy. He’s worked at finova for over fourteen years, playing a critical role in developing its product function and driving innovation. 

In his new role, Rowan will focus on advancing finova’s technology offerings and ensuring its solutions continue to empower lenders and savings providers. 

“This is a transformative moment for finova as we continue to innovate and deliver exceptional technology solutions for the mortgage and savings markets. Having been deeply involved in the business for years, I’m honoured to take on the role of CEO at such an exciting time. 

“Our focus is on driving sustainable growth, fostering innovation, and building on the strong foundations we’ve established. With the support of Bain Capital Tech, we’re perfectly positioned to help lenders, building societies, and brokers meet the evolving challenges of the financial industry,” said Paraag. 

Commenting on his appointment, Rowan remarked “finova has always been at the forefront of innovation in the mortgage market, and I’m proud to continue driving that legacy in my role. Now that the market is starting to stabilise, my focus will remain on developing cutting-edge products, and working with evolving technology partners so we can empower our lenders and saving providers to adapt and thrive. 

“With our talented team and the added expertise of MSO, we’re in an excellent position to lead the charge in transforming the mortgage journey,” he concluded.