One of India’s biggest fintech companies, BharatPe, has finally appointed its new CEO after a stint of around 15 months. The CFO and the interim CEO of the company, Nalin Negi, has finally been appointed as the CEO of the company.
Nalin Negi has proved to be an asset to the company. In his short time as the interim CEO, BharatPe recorded an increase of around 182% in revenue from operations. Moreover, under his leadership, fintech had its first positive EBITDA month in October 2023. Now, after he has become the full-time CEO of the company, BharatPe is looking for a new CFO.
Nalin joined the company in 2022 as the CFO and has been the interim CEO since January 2023. This happened when the former CEO of BharatPe, Suhail Sameer, stepped down amid a series of top-level exits after the company ousted founder Ashneer Grover.
Negi becomes the CEO of BharatPe with over 28 years of experience in the finance and banking sectors. Before joining BharatPe in 2022 as the CFO, he held senior positions in many financial services companies, such as GE Capital and SBI Card.
The chairman of BharatPe, Rajnish Kumar, said, “ Negi’s extensive experience in the fintech industry and the growth witnessed for BharatPe under his leadership makes him a natural choice to lead the company,” Negi also said that under his leadership as the CEO of the company, BharatPe will focus on upscaling its lending business and will try to launch new merchant-centric products.
BharatPe was founded in 2018 by Ashneer Grover, Shashvat Nakrani, and Bhavik Koladiya. It has a network of more than 130 million merchants across 450 cities in India and has successfully raised more than $580 million in equity so far. The company counts Peak XV Partners, Ribbit Capital, Beenext, and Tiger Global as its top investors.
