After Ashneer Grover's exit, mass resignations hit Bharatpe at the top level

This year, the company saw several high-profile exits, including founding members Satyam Nathani and Ashneer Grover (who triggered a major controversy at the platform).

IANSUpdated: Monday, November 28, 2022, 08:36 PM IST
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Ashneer Grover, ousted co-founder of BharatPe. | BharatPe

Fintech platform BharatPe has hit with a fresh wave of resignations at the top level, as its chief technology officer (CTO) Vijay Aggarwal and Rajat Jain, chief product officer (CPO), have quit among others, the company confirmed on Monday.

Apart from them, Nehul Malhotra, head of PostPe at the company, has also moved on. While Aggarwal, who joined BharatPe in March 2020, will "start his own venture'", Jain and Malhotra are "also moving out to pursue their own entrepreneurial journey".

At mid-level, Geetanshu Singla, VP-technology and Manas Poddar, programme manager at BharatPe, have also quit. In a statement, the company told IANS that "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," said a BharatPe spokesperson.

This year, the company saw several high-profile exits, including founding member Satyam Nathani, Ashneer Grover (who triggered a major controversy at the platform); Chief Revenue Officer Nishit Sharma; and Head of Institutional Debt Partnerships, Chandrima Dhar, among others.

In August, the fintech platform appointed former SBI Card CFO Nalin Negi as its new chief financial officer, as it prepares for its initial public offering (IPO).

BharatPe reached an all-time high of $20 billion in annualised total payments value (TPV), expanding its footprint to 400 towns and cities.

The company aims to surpass its target of $30 billion in payments by March 2023. BharatPe now plans to top up its services with other fintech products like BharatSwipe in the second phase over the coming months.

BharatPe facilitated over Rs 3,600 crore in loans in Q1 FY23, registering a growth of 112 per cent over the last quarter (Q4,FY22). The company said that it has an incredible leadership bench, and has continued to strengthen and build it over the last 12 months, "with key senior hires in product, technology, data science, finance and HR".

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