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Fintech Unicorn BharatPe Witnesses Fresh Resignations Of Top-Level Executives

Since the Ashneer Grover controversy, BharatPe has been witnessing the resignations of top-level executives on a regular basis

Fintech Unicorn BharatPe Witnesses Fresh Resignations Of Top-Level Executives
Outlook India

Outlook Start-Up Desk

POSTED ON November 29, 2022 12:00 PM

BharatPe, one of the country’s leading fintech companies, witnessed another round of exit of top-level officials after the resignation of Bhavik Koladiya and Satyam Nathani earlier this year. 

In the recent round of exits, Nehul Malhotra, BharatPe’s head of buy-now-pay-later (BNPL) product, PostPe, Vijay Aggarwal, chief technology officer (CTO), Rajat Jain, chief product officer (CPO) and Geetanshu Singla, vice president of technology have reportedly resigned from the company to pursue their entrepreneurial interests.

Malhotra joined BharatPe in September last year with the responsibility of leading its consumer lending division. On the other hand, Aggarwal has been working as the CTO since March 2020. Both Jain and Singla came on board in 2019. 

“We confirm that Vijay, Rajat, Nehul and Geetanshu are moving on from BharatPe to pursue their entrepreneurial passions. They will continue to ensure a smooth transition of their role to the designated leaders. While it is difficult to part ways with these fantastic leaders, we are also proud of them for having taken the entrepreneurial plunge,” a BharatPe spokesperson told The Economic Times while addressing the resignations of the senior executives. 

Since the Ashneer Grover controversy, BharatPe has been witnessing the resignations of top-level executives on a regular basis. Bhavik Koladiya, one of the co-founders of BharatPe, resigned. Prior to him, Satyam Nathani, who used to be technology in charge of the company, resigned in June. Apart from these two, Nishit Sharma, the chief revenue officer and Chandrima Dhar, head of institutional debt, left the company showing personal reasons. 

Ashneeer Grover, the former co-founder and managing director (MD) of BharatPe reacted to the news on Twitter and said 

In August 2022, BharatPe hired Nalin Negi, the former SBI Card CFO as the new chief financial officer. The company is now gearing up for its initial public offering (IPO) programme in the next 18-24 months. 

The company touched $20 billion in annualised total payment value (TPV) and expanded its footprints in 400 cities, according to a Business Standard report. 

The fintech company is now eying to cross its target of $30 billion in payments by March 2023. 
 

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