BharatPe elevates Nalin Negi to full-time CEO after Sameer's exit in 2023

Fintech firm BharatPe on Tuesday said it has elevated its interim CEO and chief financial officer Nalin Negi as full-time chief executive officer.

Negi was given charge of interim CEO in January 2023 after then CEO Suhail Sameer stepped down from the post.

"We look forward to supporting Nalin Negi in his new role and are grateful for his tremendous contribution as the interim CEO. 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, Chairman of the board, Rajnish Kumar said.

Negi joined BharatPe in 2022, with over 28 years of experience in building and scaling businesses in the fintech and banking domains.

"I am excited and honoured to take on this new role at BharatPe. Going forward, our strategic focus will be on sustained profitability, scaling lending businesses, and launching new merchant-centric products.

"We are committed to building on the strong foundation, fostering financial inclusion and delivering value to our merchants, partners, and stakeholders," Negi said.

Under Negi's leadership, BharatPe recorded 182 per cent increase in revenue from operations in FY'23 and October 2023 was the first earnings before interest, taxes, depreciation, and amortization (EBITDA) positive month.

BharatPe will institute a search for the appointment of a new CFO, the statement said.