According to media reports, the fintech major and India’s first UPI interoperable QR code company, BharatPe’s two senior executives have left the organization.
The problems don’t seem to have an end as the controversy-hit company. First, Chief Revenue Officer Nishit Sharma has resigned from the company in recent weeks due to personal reasons.
Nishit has been associated with the company since July 2019. He was supervising the revenue strategy for its lending and point-of-sale division, BharatPe Swipe.
Second, Chandrima Dhar, Head of institutional debt has resigned from the company in recent weeks due to personal reasons. She joined BharatPe in September 2020.
She was reportedly responsible for managing debt procurement as well as handling relationships with its partners in venture debt, non-banking finance, and development finance.
It has not been reported whether the company will look to replace these individuals or club some of their functions under the incoming chief financial officer.
BharatPe has been looking for a CFO and said in May that it was in the process to finalize a candidate by the end of the ongoing quarter. Currently, the company has taken the decision to appoint an executive from the professional services firm Alvarez & Marsal as interim CFO.
Since the beginning of 2022, BhartPe has seen intense investor and media scrutiny after cofounder Ashneer Grover sought damages of Rs 500 cr in Oct 2021 from Uday Kotak, Head of Kotak Mahindra Bank, alleging that the bank refused him financing for a personal investment in Nykaas IPO last November.
