BharatPe cofounder Shashvat Nakrani has stepped down from his role as the chief operating officer (COO) in the fintech firm. He will continue to be a director on the firm's board.
In an update on the social media platform LinkedIn, Nakrani said he is transitioning from a day-to-day execution to a strategic advisor and board director role effective May 1. He added that he will continue to play a guiding role in areas like fundraising, IPO, mergers and acquisitions (M&A), and long-term strategy for the company.
While Nakrani did not talk about his future plans, people in the know said that he is set to start a fresh venture.
BharatPe counted Nakrani, Bhavik Koladiya, and Ashneer Grover as its three cofounders. While Grover and Koladiya both left the firm a few years back, Nakrani continued to lead the firm, working closely with the new BharatPe leadership.
Now with Nakrani’s exit, BharatPe will be run completely by professional management. Peak XV Partners, Beenext, and Coatue are a few of the major investors in the fintech firm. According to data from Tracxn, Nakrani holds a 10.8% stake in the company.
"For me, building has always meant following curiosity, returning to first principles, and exploring ideas that may not always succeed but are worth pursuing. That same curiosity led me to put up college at the age of 19. In 2018, when we founded BharatPe on the IIT Delhi campus, it was about bridging a gap we clearly saw around us," he wrote.
BharatPe is currently led by its chief executive officer (CEO), Nalin Negi, who assumed the role back in April 2024. From being focussed on QR code-based payments only, BharatPe has now transitioned into a full-stack consumer and merchant payments and lending firm.
Speaking with ET in August last year, Negi had said that the company had processed Rs 1,000 crore in revenue from just its core financial services business. Negi had also confirmed that the company is looking to raise a major funding round, given that the firm achieved earnings before interest, taxes, depreciation, and amortisation (Ebitda) profitability last year.
BharatPe closed FY25 with total revenue of Rs 1,734 crore and profit before tax and employee stock option (Esop) cost of Rs 6 crore. At the net level, the New Delhi-based firm reported a loss of Rs 88 crore.
In an update on the social media platform LinkedIn, Nakrani said he is transitioning from a day-to-day execution to a strategic advisor and board director role effective May 1. He added that he will continue to play a guiding role in areas like fundraising, IPO, mergers and acquisitions (M&A), and long-term strategy for the company.
While Nakrani did not talk about his future plans, people in the know said that he is set to start a fresh venture.
BharatPe counted Nakrani, Bhavik Koladiya, and Ashneer Grover as its three cofounders. While Grover and Koladiya both left the firm a few years back, Nakrani continued to lead the firm, working closely with the new BharatPe leadership.
Now with Nakrani’s exit, BharatPe will be run completely by professional management. Peak XV Partners, Beenext, and Coatue are a few of the major investors in the fintech firm. According to data from Tracxn, Nakrani holds a 10.8% stake in the company.
"For me, building has always meant following curiosity, returning to first principles, and exploring ideas that may not always succeed but are worth pursuing. That same curiosity led me to put up college at the age of 19. In 2018, when we founded BharatPe on the IIT Delhi campus, it was about bridging a gap we clearly saw around us," he wrote.
BharatPe is currently led by its chief executive officer (CEO), Nalin Negi, who assumed the role back in April 2024. From being focussed on QR code-based payments only, BharatPe has now transitioned into a full-stack consumer and merchant payments and lending firm.
Speaking with ET in August last year, Negi had said that the company had processed Rs 1,000 crore in revenue from just its core financial services business. Negi had also confirmed that the company is looking to raise a major funding round, given that the firm achieved earnings before interest, taxes, depreciation, and amortisation (Ebitda) profitability last year.
BharatPe closed FY25 with total revenue of Rs 1,734 crore and profit before tax and employee stock option (Esop) cost of Rs 6 crore. At the net level, the New Delhi-based firm reported a loss of Rs 88 crore.
