BharatPe Appoints Nalin Negi as Chief Executive Officer

BharatPe, the fintech company that has been making waves in the Indian payments landscape, has officially elevated Nalin Negi as its chief executive officer. This move comes 15 months after Negi took charge as the company’s interim CEO and chief financial officer, during a period of significant upheaval and transition.

Under Negi’s leadership, BharatPe has recorded a remarkable 182% increase in revenue from operations in the financial year 2023. Moreover, the company achieved its first Ebitda-positive month in October, showcasing its ability to navigate the challenges and emerge stronger.

Negi’s Extensive Experience in Fintech and Banking

Nalin Negi brings with him a wealth of experience in the fintech and banking sectors. Prior to joining BharatPe in 2022, he held senior leadership positions at financial services companies such as SBI Card, where he served as the CFO when the company went public, and GE Capital.

Driving Innovation and Empowering Merchants

As the newly appointed CEO, Negi will focus on leading the company into its next phase of development, driving innovation to empower merchants across the country. He has expressed his commitment to scaling the company’s lending businesses and launching new merchant-centric products.

Stability Amidst Upheaval

Negi’s elevation to the CEO position comes at a crucial time for BharatPe, as the company has experienced a series of top-level exits following the ouster of co-founder Ashneer Grover. Suhail Sameer, the previous CEO, stepped down in January 2023, leaving Negi to steer the company through these turbulent times.

A Natural Choice for the Role

Rajnish Kumar, the chairman of the board at BharatPe, praised Negi’s appointment, stating that his “extensive experience in the fintech industry and the growth witnessed for BharatPe under his leadership makes him a natural choice to lead the company.”

BharatPe’s Journey and Growth

Founded in 2018, BharatPe has established a strong presence in the Indian payments landscape, with a network of more than 13 million merchants across more than 450 cities. The company has raised over $583 million in equity so far, attracting investments from renowned firms such as Peak XV Partners (formerly Sequoia Capital India), Ribbit Capital, Beenext, and Tiger Global.

Navigating Challenges and Driving Innovation

Despite the challenges faced by the company, BharatPe has remained resilient and focused on its mission to empower merchants. Under Negi’s leadership, the company is poised to continue its growth trajectory, while also exploring new avenues for innovation and service delivery.

Empowering Merchants and Fostering Financial Inclusion

BharatPe’s core objective has been to provide accessible and affordable financial services to merchants across India. By leveraging its technology and partnerships, the company aims to democratize access to credit, payments, and other essential financial tools, thereby empowering small and medium-sized businesses to thrive.

The Road Ahead

With Nalin Negi firmly at the helm, BharatPe is well-positioned to navigate the evolving fintech landscape and capitalize on the growing demand for digital financial solutions. The company’s focus on innovation, scalability, and merchant empowerment will be crucial in shaping its future success.