Fintech operator BharatPe, on Tuesday, elevated Nalin Negi as Chief Executive Officer of the company, effective immediately.
In August 2022, Negi joined BharatPe as Financial Chief of the company. Before which, he held senior positions with SBI Card, an institution launched by the State Bank of India and General Electric Capital. Overall, he has almost three decades of experience in the finance industry.
Suhail Sameer, former CEO of the company, stepped down from his role in January 2023. He worked with the company for nearly three years. Sameer founded his funding company called OTP Ventures, which looks to invest in three areas – consumer brands, consumer technology, and fintech.
After Sameer’s exit, Negi took over as interim Chief Executive of BharatPe, while remaining in his title as CFO of the company.
In December 2023, BharatPe saw significant growth and strategic advancements across major business categories under Negi’s direction. The company reported an annual revenue rise of about threefold to ₹904 Crore ($108 million) in 2023, from ₹321 Crore ($38.4 million) in 2022.
Recently, Ashneer Grover, Co-Founder of BharatPe launched an application called ZeroPe, a financial services company, which offers medical loans to its users.
In early April, BharatPe’s competitor Paytm Payments Bank (PPBL) said Surinder Chawla, Chief Executive Officer of the company resigned on account of personal reasons and to explore promising professional prospects.
At the point of conversion, $1=₹83.66
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