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BharatPe makes another management rejig across verticals

EntrackrEntrackr · 1y ago
BharatPe makes another management rejig across verticals
Medial

Fintech firm BharatPe is going through another transformation to strengthen the leadership team across three verticals, sources aware of the development told Entrackr. For the uninitiated, BharatPe runs three entities – Resilient Innovations Private Limited (merchant app), Resilient Payments Private Limited (Payment unit), and Resilient Digi Services Private Limited (lending unit). Sandeep Indurkar will now step up as the CEO of the payments vertical, one of the sources told Entrackr. Indurkar was earlier chief business officer of the banking vertical at the company. Also Read: BharatPe to launch new entity BharatPe Money for lending vertical As per sources, Kohinooor Biswas will now manage loyalty division Zillion (part of RDSPL) in addition to his existing responsibilities. “Rijish Raghavan, who was earlier acting as CEO of Zillion, will now head BharatPe’s device business,” added another source. Sources also further said that the trio will continue to report to Nalin Negi, the interim CEO of BharatPe. In a nutshell, Indurkar will be heading the payment unit (RPPL), Kohinoor will be heading RDSPL, and Nalin will continue to lead the merchant unit (RIPL). A BharatPe spokesperson confirmed the development but did not comment further. Amid high profile exits in 2023, BharatPe also announced key hirings during the last year. In July, it appointed Pankaj Goel as its chief technical officer (CTO). The company filled the position of CTO after a gap of seven months whereas its CFO Nalin Negi has been acting as an interim CEO since January last year. The new changes in leadership came soon after BharatPe completed its $100 million debt round from InnoVen Capital and Credit Saison. Entrackr exclusively reported the development in January. Financially, BharatPe is also getting back on track as the firm recorded its first profitable month in October 2023. The company claimed that its annualized revenue crossed Rs 1,500 crore, marking over 30% growth as compared to FY23. In FY23, it crossed Rs 1,000 crore revenue mark while its EBITDA loss went up 9% to Rs 772 crore.

BharatPe strengthens leadership team with key appointments in finance and investments

EntrackrEntrackr · 11d ago
BharatPe strengthens leadership team with key appointments in finance and investments
Medial

BharatPe strengthens leadership team with key appointments in finance and investments Fintech platform BharatPe has expanded its leadership team with the appointment of Rajesh C as Head of Finance and Himanshu Nazkani as Head of Investments. The strategic hires come as the company prepares for its next phase of growth. Rajesh C, who will oversee finance, treasury, and taxation, brings more than two decades of experience across financial planning, accounting, and regulatory reporting. He has previously held leadership roles at SBI Card, ABN Amro-RBS, and GE Capital, and was part of the core team that managed SBI Card’s IPO. Himanshu Nazkani, as head of investments, will drive the company’s investment and insurance strategy while building partnerships across mutual funds, digital gold, fixed deposits, and insurance. With experience spanning fintech, wealthtech, and venture capital, he has previously worked with CarDekho Group, NYE Money, Kristal.ai, Elevar Equity, and Religare Global Asset Management. The development comes at a time BharatPe is negotiating a pre-IPO funding round. The company recently claimed that it turned profitable in FY25 with a profit before tax of Rs 6 crore (excluding ESOP costs) on revenues of Rs 1,800 crore. This marks a turnaround for the firm which had been loss-making for several years. BharatPe raised its last equity round in August 2021 when it also entered the unicorn club. It has raised over $650 million in equity and debt from the likes of Tiger Global, Dragoneer Investment Group, Steadfast Capital, Coatue Management, Ribbit Capital and others. In June, BharatPe announced the appointment of Siddhartha Jain as the Chief Network Officer (CNO). Trillionloans Fintech Private Limited (TFPL), the BharatPe NBFC arm, had also appointed Sandeep Singh as its new chief executive officer in April this year.

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