Kunal is currently the Cofounder and CEO of recently launched FinAgora (FinFlow Agora Analytics Limited), where he is looking to build next generation of fintech tools for microfinance institutions in Africa, Asia, and beyond.
Over the past two and a half decades, he has worked in the US across Verizon, Truist Bank, Credit Suisse, and Oracle, leading initiatives at the intersection of product strategy, data science, and technology. Along the way, he has learned that great products are equal parts logic, empathy, and well-timed coffee.
Kunal credits his time at IIFM for nurturing his interdisciplinary problem-solving mindset — and perhaps his lifelong dependence on good friends.
Location: Washington DC, USA
Linkedin: : https://www.linkedin.com/in/kunal-mangal-a4434b1/
Q. Tell us about your School and College before you came to IIFM. How was your experience there? And how did IIFM happen?
A. My dad’s job with the state government meant we rarely stayed in one city long enough to unpack properly. I went to more schools than I can remember, in more dusty Haryana towns than I care to name. Thankfully, I spent my high school years in Chandigarh — the first North Indian city to have pubs when I was in 12th grade. (I still miss those ₹14 pints!)
I graduated with a Mechanical Engineering degree but had absolutely no clue what to do next — except that I didn’t want to work in a factory. A short internship at Escorts cured me of that dream quickly. My best friend Amit was preparing for CAT, and I tagged along — saw an ad for IIFM, filled out the form, and a few months later, found myself in Bhopal. I was very reluctant to join initially and arrived 10 days late. But once there, the atmosphere, the building, views from the hill, and most importantly the people (I mean monthly stipend) immediately clicked for me. And that’s how the adventure began…
Q. How has been your journey from IIFM so far?
A. It’s been a bit of a random walk, really. While at IIFM, I applied to a few universities in the U.S. — probably the last truly premeditated career move I ever made. I graduated from IIFM with a job offer in Delhi, but a month later found myself holding admission letters from three American universities. After some deliberation, I chose Texas A&M, hoping to blend business, statistics, and technology (GIS/MIS) in a PhD-level exploration of how GIS could solve real-world business problems.
That plan didn’t quite pan out — my would-be advisor got entangled in a legal controversy, and I pivoted to complete an MS in Management Information Systems instead. Soon after, I landed in beautiful Colorado with an ERP company (later acquired by Oracle), where I spent four formative years before moving to North Carolina at the east coast. My wife — and IIFM batchmate — Sudipta had joined NC State University and later Duke University as a faculty member, so that’s where our next chapter began, and continued until 2020.
2006 was a rough year — my father passed away suddenly from a heart attack, and life hit a reset button I hadn’t asked for. At the time, I was with Credit Suisse, but soon realized that algorithms and databases weren’t quite filling the void. I flirted with the idea of moving back to India, but life (and logistics) had other plans. So, I did the next best thing: quit my job and joined the MBA program at Duke. They even threw in a scholarship, which made the midlife-crisis math work out.
Then came 2008 — the year the global economy decided to implode. Somehow, I still landed a job in 2009 at a bank (a minor miracle at the time) and ended up spending the next decade there, working across online banking, risk, payments, and mortgage pricing. It wasn’t always glamorous, but it was a timely education in how to apply data-driven insights to squeeze out efficiencies in an increasingly difficult market where revenue sources were drying up.
In 2020, life (and Sudipta) took us to Washington DC, where she joined Georgetown University to build its MS in Business Analytics program. I spent four years at a telecom giant, designing AI-powered recommendation engines — and surviving more acronyms than I like to admit.
Then, in 2022, a freak golf accident nearly took me out of commission. Two months of recovery gave me time to think — and rethink. I began to realize that I was mentally done with the corporate world and should do something more concrete and impactful. A serendipitous reunion with my IIFM senior and dear friend Tanmay Chetan set my next chapter in motion. His groundbreaking work in financial inclusion inspired me to explore the intersection of tech, AI and microfinance, eventually leading to some consulting in Africa — and finally, by 2025, to co-founding FinFlow, a fintech startup helping MFIs scale faster, serve better, and work smarter.
Q. What were some of the key learning in this journey that you would like to share with us?
- A. Don’t do what I did. Honestly, I wish I’d spent more time early on figuring out my saarthak karma — my purposeful action. I’ve learned (a bit late) that when you truly understand why you’re doing something; it stops feeling like work and starts feeling like play. So, take your time — research, reflect, experiment — and once you find your path, give it everything you’ve got. Don’t just follow a path because everyone else is going there.
- Never stop learning. The world now moves faster than your last software update. The only way to stay relevant is to keep learning — not because you have to, but because it’s fun. And if you followed the previous bullet point, learning will be your fuel, not your chore.
- Avoid “energy vampires”. These come in many forms — people, habits, or even your own self-doubt. They quietly drain your enthusiasm and confidence. Also, beware of social media: it’s great at creating FOMO and fake validation, neither of which are helpful companions on a real journey.
- Stay humble. Confidence opens doors; arrogance slams them shut. The moment you think you know it all, you stop learning — and start annoying people. You risk losing valuable possibilities and relationships if your ego always enters the room five minutes before you do.
- It’s never too late. I’m launching a startup at an age when most people start planning their retirement. Crazy? Maybe. But I’m having a blast — and honestly, that’s the best metric of success I know.
Q. How has been your experience in your current Organization? What all areas have you been working here?
A. I’ve recently launched a fintech startup with a college friend and some PE backing — so naturally, as CEO, I wear every hat in the wardrobe: product strategy & design, finance, sales, and occasionally, chief conflict resolution officer.
It’s early days, but the experience has been both humbling and energizing. Building a team of Gen Z tech wizards has been… educational, to say the least. I am learning that entrepreneurship, when done with the right intent and right partners, is immensely rewarding.
Q. What is the most satisfying part in your career?
A. For me, satisfaction has always come from doing the right thing well, not just doing the expected thing fast. I’ve tried to stay intellectually honest in every role — even the boring ones — and I’ve never hesitated to call a spade a spade, even when it wasn’t politically convenient.
Many of my roles were newly created positions, where I had to define what success even looked like. That freedom to build something from scratch — to shape the scope, the process, and sometimes the job itself — has been incredibly rewarding. Sure, it may have slowed down the climb up the corporate ladder a bit, but it made the view along the way a lot more interesting.
Q. Has your learning at IIFM helped in shaping how you approach your professional roles?
A. Absolutely. The most valuable lesson I took from IIFM was empathy. Our case discussions often emphasized the difference between felt need and perceived need — and that idea has stayed with me ever since. Whether designing a product or leading a team, being able to truly step into someone else’s shoes is what leads to meaningful solutions.
The other big takeaway was teamwork and the value of diversity. We were a small batch of just 26, coming from wildly different academic and social backgrounds. Working together — whether on projects, running the mess, organizing Kalpataru, or managing placement trips — taught me how collaboration really works (and how messy democracy can get!).
IIFM gave us a lot of autonomy back then, and that freedom was the best kind of leadership training. I hear it’s a bit more structured now, which might be good for efficiency — but I would miss the creative chaos of our time.
Q. Who (or what) are the biggest influences or drivers in your careers? What would be your advice to freshers and IIFM graduates who are looking to choose similar sectors/roles.
A. That’s a tough one for me — mostly because I’ve never been much of a career planner and have largely drifted with the current… sometimes upstream. Also, at IIFM, I was more focused on grad school applications than job-hunting, but a few things left a mark.
Influencers:
- Our seniors and visiting alumni were the real influencers — we’d have long, face-to-face conversations (there were no cell phones back then) usually over cheap rum, about their plans and experiences. Those chats, combined with OT(now called SI and WI/Project work) exposure, gave me my first real sense of what life after IIFM might look like. The professors helped too — at least some of them 😉 — though I’ll admit I was probably too shy (or distracted) to take advantage of their wisdom.
- Later, in corporate jobs, I sometimes had opportunity to build relationships with senior leaders whose wavelength matched mine and tapped them for guidance and support. But you have to be very proactive for that to happen, otherwise all you get is just lip service.
Advice:
- While at IIFM, explore as many career paths as you can. Form a club or a small group dedicated to researching sectors, roles, and companies. Invite alumni to share what their day-to-day actually looks like — the real story behind the job title.
- Once you understand what’s out there, it’s easier to align opportunities with your strengths and values, your saarthak karma. Without that mindful exploration, you risk choosing a sector/role just because it’s popular or “high-paying,” only to realize later it doesn’t fit — leading to frequent career switches.
- If you’re interested in technology, finance, analytics, or data science, don’t just talk the talk. Build real, hands-on skills beyond what the curriculum offers. Trust me — a lot of people on LinkedIn yelling about AI and fintech couldn’t debug a “Hello World” if their bonus depended on it!
Q. How did you decide to go for higher studies post IIFM? And how was the experience?
A. As I mentioned earlier, the decision was made even before I joined IIFM. I’d long wanted to explore the world and experience education and life outside India. That curiosity probably took root sometime during my undergrad days.
The experience itself was fantastic. Being on your own in a foreign country, managing life with limited resources, teaches you a lot. This was before the era of helicopter parents and WhatsApp video chats — back then, it cost about $10 for a 10-minute call to India, so I mostly survived on handwritten letters and homesickness.
Looking back, I’d say that studying and living abroad for some time truly broadens your mind — and your tolerance for bland food. Anyone who gets a chance to travel and experience different cultures should grab it with both hands. It’s the best investment you can make in yourself.
Q. What are your favorite memories during your IIFM days?
A. Oh, where do I start! The hostel dance parties were absolutely legendary. I still remember one birthday party where the ‘nectar’ ran out too soon, and folks made their disappointment loud and clear. A few days later, our senior Daddu (Atulya Tankha) threw his own party, stocked it with premium nectar, and practically forced refills down everyone’s throats — just to make a point.
Then there were the shayarana gatherings, where we’d kick off mehfils with impromptu tukbandi sessions — everyone speaking in rhymes, one verse at a time. And the fun only got better with kebabs from old Bhopal, generously supplied by Rajen Tanwar’s uncle.
And of course, the open-air singing baithaks — my batch had some truly gifted singers (Sudipta, Neeraj, and Gaurav could’ve formed a band). Those moonlit nights, with songs echoing across the campus, were pure magic.
Kalpataru was the highlight of the year — full of chaos, laughter, and endless creativity. We even pioneered the “Cacophony” competition, which became a crowd favorite. I was put on the judges’ panel, probably because they feared what might happen if I competed. But if I were to pick one event, then women’s cricket was definitely the undisputed star of the show. I remember our girls scored a last-ball victory in the finals!
Q. The best buddies / seniors /faculty at IIFM? Some memorable tidbits that you like to share?
A.The friendships and relationships were honestly the best part of IIFM — I even met my future wife there! 😊 I was lucky to have a close circle of friends in my batch (too many to list without getting into trouble for forgetting someone). We still keep our WhatsApp group buzzing, and whenever we chat, it feels like we’re right back on campus — minus the mess food.
Among the seniors, I was especially close to Tanmay (and still am), and very pally with Reddy, Daddu, Kajoli (who took great pleasure in embarrassing me with her one-liners), Pari Bhaiyya, and Guchha — now better known as Dr. Rajesh Upadhyayula of IIMK. They were an incredible bunch — warm, witty, and always ready to help. I’m still in touch with most of them, which says a lot about how strong those IIFM bonds are.
I have a great chemistry with Jayesh Bhatia (92-94) as well though we have not been able to interact much lately (his fault, not mine ☺).
Memorable tidbits:
- Getting stung by dozens of bees near the summit of India gate still gives me the chills. But I was so moved by the care showered on us (there were two more victims) by the classmates afterwards.
- Our first field trip… sharing a bathroom with 19 guys in a riverside forest guest house… and making an important silvicultural discovery through my friend Rajen that ‘leaves of Tectona Grandis are not velvety at all’.
- Watching Reddy and Tanmay dance on Munna Singh’s legendary Bhojpuri song ‘Nathuniye pe goli maare saiyyan hamar (my love is shooting at my nose ring)’.
- Bandhavgarh trip… still yearn to go there again with the same gang of people.
- Absorbing gyaan and 2nd-hand smoke in Dada’s (Santosh Singh) room. Dada was a UPSC aspirant before IIFM and could speak on any topic — from macroeconomics to mangoes — for hours.
- And the mornings when oversleeping meant missing breakfast, only to find that Bharati Joshi and Sudipta had smuggled food from the mess to the classroom — true friendship (and service to humanity) in action.
Anoop Tiwari, Sudipta, Rajen, and Santosh Singh (Dada).
Q. As an alumnus, what’s your advice to freshers or those joining IIFM to get best out of the 2 years there?
- A. Learn to communicate, not just present. Great communication is the single most valuable skill employers look for — often without realizing it. And no, it’s not about fancy slides or accent borrowed from Netflix. It’s about tailoring the content to your audience, telling your story clearly, and not speaking like you’re racing to catch a train.
- Make friends, not just contacts. In future, you are likely to cross paths with your IIFM classmates more often than with your old college and school buddies. These friendships will last long after your notes and case studies are forgotten — invest in them.
- Enjoy the ride. Don’t lose sleep over placements and salaries from day one. You’re investing two years of your life (and a fair bit of money), so make sure you also have fun. You’ll learn as much outside the classroom as inside, and those will be the memories that stay with you.
Q. What was your typical day at the work? And how does it look like while you are on a break?
A. Ever since I started my venture, the concept of a “typical workday” has gone out the window — and so has the idea of a break. My day usually begins around 9:30 a.m. with a quick sync-up call with the design team. From there, it’s a blur of work, tech sessions, and short coffee-fueled breaks until about 3 p.m., when I escape for a long walk or a bike ride to clear my head.
Evenings are my second shift — I usually log back in for another 4–6 hours of work, often ending the day well past midnight. Since I mostly work from home, the line between “office” and “life” is basically theoretical at this point.
When I’m traveling, my schedule currently revolves around visiting MFIs in Africa and India. We spend time shadowing field officers into remote rural areas and urban slums, closely observing their tools, processes, and real-world pain points. I also interview MFI customers, field staff, HQ staff and executives to understand the full picture — which makes these trips intense and very immersive.
Q. And how about weekends, hobbies, family and anything else you want to add?
A. Weekends are for family, friends, and a bit of mischief. I make it a point to spend time with my sister’s family — her husband, Sunil Mallik, is not only my IIFM junior but also a close friend. We usually hang out, play a round of golf, and share at least one good meal every week. We also try to meet up some local friends, including IIFMites, at least twice a month if not more.
On Sundays, we head out for our trademark long walks — anywhere between 5 to 10 miles through DC’s neighborhoods — and usually end up discovering a new restaurant. The only challenge? Making the return trek after a happy-hour cocktail or two!
Q. IIFM is driven by alumni’s passion and commitments towards its goal. How would you like to contribute to IIFM or IIFM alumni, students? Your engagement with IIFM Placement or OT/SI?
A. To be honest, it is very difficult for me to engage regularly due to living abroad and my work. But if any student or the alumni association needs me for anything specific, including financial assistance, please do not hesitate to reach out. Once my fledgling company stabilizes a little, we can probably talk OT or placement opportunities. But that will be at least one more year.
Q. What do you think is different at IIFM now vs when you studied there? When was the last time you visited IIFM?
A. It’s been a while — my last visit was in 1999–2000, so I can’t claim insider knowledge anymore. But from what I gather, a few things have likely changed. With larger batch sizes, maintaining the same personal touch and ensuring strong placement opportunities must be more challenging. But on the flip side a much larger alumni network is a huge positive.
IIFM’s brand recognition seems to have grown tremendously over the years, which is great to see.
What I’m curious about, though, is how the expectations of students have evolved. Back in our time, IIFM had its own entrance exam, and most of us applied because we were genuinely drawn to, or at least curious about what the institute stood for. Now that admissions come through a more mainstream, common exam, I wonder if the alignment between students’ expectations and IIFM’s unique ethos has shifted a bit.
Q. Any suggestions on who you want to get profiled/interviewed here?
Swandip Sinha (96-98), Tanmay Chetan (95-97) and Santosh Kumar Singh (96-98) but they’ll all try to dodge you for sure ☺