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BharatPe, the fintech platform for small merchants, on Monday said that four of its top executives — including its chief technology officer (CTO) and chief product officer (CPO) for lending and consumer products — have left the company to pursue entrepreneurial passions.
Among the top brass leaving were Vijay Aggarwal (CTO), CPO for lending and consumer products Rajat Jain, vice-president of technology Geetanshu Singla and Nehul Malhotra, head of consumer lending platform PostPe.
“We confirm that Vijay, Rajat, Nehul, and Geetanshu are moving on from BharatPe to pursue their entrepreneurial passions. They will continue to ensure a smooth transition of their role to the designated leaders,” said a spokesperson of BharatPe. However, the company did not provide details about the successors for the key positions.
The latest announcement follows a series of exits in the fintech unicorn that is backed by Tiger Global and Sequoia.
In March, co-founder and managing director (MD) Ashneer Grover left the company after weeks of a dispute over alleged misappropriation of funds. A few months later, another co-founder Bhavik Koladiya and chief revenue officer Nishit Sharma resigned from the company.
“While it is difficult to part ways with these fantastic leaders, we are also proud of them for having taken the entrepreneurial plunge. We wish them all the best and would continue to cheer for them as they build their next ventures.
BharatPe has an incredible leadership bench, and has continued to strengthen and build it over the last 12 months. There have been key senior hires in product, technology, data science, finance, and HR,” the spokesperson added.
According to the latest regulatory filings, BharatPe recorded a four-fold growth in its FY22 revenue, at $100 million. The company had set itself the goal of crossing $300 million in revenue by FY23-end.
It was keen on leadership additions, as it plans an initial public offering (IPO) in the coming years.
The resignations may also be a setback for the start-up in its plans to develop Unity Small Finance Bank, formerly PMC Bank. The bank was acquired through a joint venture between BharatPe and Centrum Financial Services.
