BharatPe announced Nalin Negi as its Chief Executive Officer (CEO) after he served as the interim CEO and CFO following Suhail Sameer’s resignation in January 2023 amid a series of top-level exits after co-founder Ashneer Grover’s ouster. Nalin Negi said that the company aims to focus on sustained profitability, adding, “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 deliver value to our merchants, partners, and stakeholders.”
BharatPe recorded 182 per cent increase in its revenue from operations in FY23 and marked October 2023 as the first EBITDA-positive month.
