One of the largest B2B fintech lenders, BharatPe Chief Executive Officer (CEO) Suhail Sameer steps down from his position and will assume the role of strategic advisor beginning on January 7, 2023
Earlier, Ashneer Grover and his wife Madhuri Jain also exited the company. While Madhuri Jain was terminated over allegations of misappropriation of funds, Ashneer Grover resigned a few weeks after that on March 1 from his position as the managing director.
Post these exits Bhavik Koladiya, Head of the company’s Technology and Product divisions, Chief Revenue Officer Nishit Sharma, and one of the founding members Satyam Nathani also quit the company. Followed by many more senior leaders leaving the organization.
Rajnish Kumar, Chairman, BharatPe Board said, “On behalf of the Board, we would like to thank Suhail for the tremendous contribution he made in steering BharatPe into a leadership position as a fintech player in India and helping us ride through various challenges during this journey.”
“We have recognized the need to dedicate time and resources to finding the leader who will continue to catapult BharatPe to new heights, and we are grateful for the commitment from Suhail and Nalin”, Rajnish Kumar added.
Rajnish Kumar further said, “We look forward to supporting Nalin Negi in his role as the interim-CEO, as we move ahead in our mission of empowering millions of MSMEs with a range of world-class financial products.”
Sameer has been overseeing the company since Ashneer Grover left the company. He joined the company in August 2020 as president.
In August 2021, Sameer was appointed the CEO of the firm. The company has appointed current CFO Nalin Negi as interim CEO.
BharatPe was founded in 2018 with the vision of making financial inclusion a reality for Indian merchants. In 2018, BharatPe launched India’s first UPI interoperable QR code, the first zero MDR payment acceptance service. In 2020, post-Covid, BharatPe also launched India’s only zero MDR card acceptance terminals – BharatSwipe.
