Driving Transformation With Strategy, Curiosity, Discipline, And Impact
Chief Financial Officer
Prashasync
Driving Transformation With Strategy, Curiosity, Discipline, And Impact
Chief Financial Officer
Two thousand crore raised. Cash burn slashed from 30 crore to 3 crore. A negative 20% EBITDA clawed back to break-even. While these numbers would be career-defining milestones for most CFOs, for Mahabaleshwar Hegde, Chief Financial Officer of Prashasync, they marked just the beginning of his journey. Over two decades, Mahabaleshwar has built a career marked by transformation and reinvention. At iD Fresh Food, he helped the company recover from steep losses to achieve break-even status, securing a balanced mix of private equity and debt that solidified its leadership in the FMCG sector. At Prestige Group and Garden City Realty, he strengthened financial operations, guided investor relations, and built systems that allowed businesses to scale efficiently. At Global Franchise Architects, he designed frameworks that gave the brand the backbone to expand confidently. Each role honed his ability to turn complex financial challenges into strategic opportunities—and to do so with curiosity and discipline. Today, as CFO of Prashasync, Mahabaleshwar applies that same discipline and vision to one of healthcare’s most persistent challenges: liquidity. Clinics often wait months for reimbursements, while patients struggle with the upfront costs of bills. His solution integrates a fintech backbone into the company’s HealthTech platform, providing providers with instant access to financing and offering patients affordable payment options when care is most critical. In an exclusive conversation with TradeFlock, Mahabaleshwar Hegde unpacks the mindset, the metrics, and the mission that are reshaping how finance can serve both business and society.
"Every industry change is not just a career move; it is a chance to reinvent yourself and learn from a whole new set of challenges."
You have worked across multiple industries. What mindset shifts have been most critical in your journey?
Over the years, I have navigated real estate, FMCG, manufacturing, consulting, SaaS, and now the health tech sector. What has consistently driven me is a sense of ownership and curiosity to learn from every new environment. While basic finance principles remain constant across industries, each sector presents its own regulatory requirements, operational challenges, and growth opportunities. Moving between sectors requires adaptability and the willingness to start from scratch. Each transition comes with a steep learning curve. When I began working with U.S.-based health tech regulations, for example, I realised the compliance landscape was entirely different from India. Preparing for our upcoming expansion into Europe will be another chance to navigate new rules, team structures, and customer expectations. Early-stage startups have been particularly rewarding. Joining at a stage where I could shape teams, build systems, and implement processes gives a tangible sense of accomplishment—far more than routine day-to-day tasks ever could.
Can you share one of the most challenging fundraisers and the lessons it taught you?
My first fundraising round in 2015 aimed to raise 100 crore. We approached several investors but quickly realised our data was insufficient. Early-stage startups often lack detailed financial records or proper unit economics, which is why our first attempt failed. The investors could not trust the numbers we presented, and we had to step back and rethink our approach. Over the next six months, we built a robust data infrastructure. We created historical financial analyses, unit economics, and sales reports broken down by region and product. That experience taught me that accurate, comprehensive data is invaluable. Transparency is non-negotiable. Today, I ensure that every company I join has the necessary data infrastructure, enabling investors to make informed decisions and accelerate their fundraising efforts.
You have raised over two thousand crore across banks and venture capital. What strategies have contributed to your success?
The foundation of successful fundraising is understanding the investor. From my very first round, I focused on what investors cared about and built a compelling story around the company’s growth and potential. Establishing strong relationships with bankers and investors, as well as maintaining industry connections, is essential. Equally critical is data. Investors scrutinise unit economics, historical balance sheets, and financial ratios. Many early-stage startups struggle because they lack the detailed data that inspires confidence and trust. Wherever I work, I ensure that comprehensive and accurate information is available, enabling investors to make informed decisions quickly. It is not just about numbers; it is about building trust. When investors know that the data is transparent and reliable, fundraising moves faster, negotiations are smoother, and strategic growth becomes achievable.
Can you give an example of fintech-driven innovation in your company?
Payroll can’t wait. Supplies can’t wait. But insurance reimbursements? They often drag on for 60 or even 90 days. For clinics, that lag creates crushing cash-flow gaps. For patients, the problem looks different but feels just as urgent: high upfront costs that force people to delay or skip care altogether. We set out to close that gap. The solution was to weave a fintech layer directly into our HealthTech platform—an API-first backbone that makes financing as seamless as scheduling an appointment. For providers, it means instant short-term financing that reconciles reimbursements, covers payroll, and keeps supply purchases on track. For patients, it means affordable pointof-care financing, whether through instalment plans, soft-credit loans, or even subscriptionenabled care models. The magic happens in the data. By stitching together EHRs, billing systems, payer remittances, bank feeds, and claims, we built a real-time picture of cash flow for every provider. Then we trained underwriting models not on generic credit scores but on healthcarespecific signals: historical claims, payer mix, procedure volumes, patient waitlists, and even seasonal demand. The result is financing that understands the rhythms of healthcare itself. Patients see the benefit immediately at checkout. They can split bills across instalments, autopay, or use HSA/FSA split-pay—all integrated with their insurer’s cost-sharing information. Clinics gain breathing room through receivable financing, with advances on outstanding claims and automated reconciliation once payers settle. Behind it all is HIPAA-compliant infrastructure, tokenised data handling, KYC/AML safeguards, and transparent, state-specific lending disclosures—because trust is as critical as liquidity in healthcare. The business impact is undeniable. Providers reduce day sales outstanding and stabilise cash flow. Patients are more likely to accept treatment because care is finally affordable. Our platform generates new revenue streams through financing fees, interchange, and partnerships with insurers, suppliers, and telehealth platforms. And default risk drops, because underwriting is anchored to the reality of claim-backed cash flow. What makes this a fintech innovation is not just the tools but the transformation. By merging clinical billing and payer data with advanced underwriting and payments, we’ve unlocked liquidity where it didn’t exist, cut through administrative drag, and expanded access to care. In other words: we’re not just changing how providers get paid—we’re reshaping how patients experience healthcare.
Which industry has been the most challenging, and why?
FMCG and manufacturing posed some of the toughest challenges I’ve faced. In manufacturing, for instance, I worked with a largely blue-collar workforce, many of whom required handson guidance and tailored communication. Managing supply chains, working capital, and people simultaneously was a complex puzzle, with operational hiccups happening frequently. At Prashasync, the challenges are different but equally demanding. The business is more sophisticated, but aligning cross-border teams across India and the U.S., while navigating international regulations, requires a nuanced mindset. Each industry brings unique obstacles, and learning to manage them has refined my leadership and strategic thinking skills
You’ve built finance teams across startups for over a decade. What gaps do you see in hiring, and how do you bridge generational differences?
The key is integrating expertise with technology. Experienced team members bring deep domain knowledge and compliance expertise, while younger professionals are highly tech-savvy and comfortable with digital tools and AI. My role is to bridge these two strengths, ensuring that automation and data analytics complement financial expertise rather than replace it. Compliance remains non-negotiable. Any lapse can have serious consequences. By merging experience with technology, we create a collaborative, high-performing team. Workshops, hands-on training, and mentoring enable everyone—from seasoned professionals to recent graduates—to learn from one another and enhance their efficiency. This approach not only maximises the capabilities of our finance function but also fosters a culture of continuous improvement and adaptability.
“Transparency and preparation are the most powerful tools you can bring to any fundraising table."
As fintech and digital finance continue to evolve rapidly, what trend is most misunderstood or overlooked?
Many finance professionals still treat fintech and digital finance as a standalone vertical, rather than a business enabler. Finance must work closely with the business team to drive results, rather than operating in isolation. Digital tools can streamline processes, enhance the customer experience, and even generate new revenue streams. Future finance leaders should embrace a customer-centric mindset. Finance is no longer a back-office function; it is central to business strategy. Technology should empower teams to make strategic decisions, drive growth, and anticipate market trends. Finance should be about enabling outcomes, not just managing numbers.
Do you have any final thoughts on building high-performing finance teams?
High-performing finance teams combine deep functional expertise with technology. By merging compliance knowledge, financial analysis skills, and digital fluency, finance can actively drive business strategy rather than merely support it. Collaboration, innovation, and adaptability are essential in today’s rapidly evolving business landscape. When teams embrace these principles, finance becomes not just a function—but a cornerstone of sustainable growth.
