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BharatPe Rejigs Top Brass; Sandeep Indurkar To Head Payments

Inc42 · 1y ago

BharatPe Rejigs Top Brass; Sandeep Indurkar To Head Payments

Fintech company BharatPe has made significant changes in its top management, with Sandeep Indurkar being promoted as the CEO of the payment vertical and Rijish Raghavan taking charge of the device business. The reshuffle follows a series of top-level exits including CEO Suhail Sameer and CPO Ankur Jain. The three new appointments will report to interim CEO and CFO Nalin Negi. BharatPe offers various consumer-facing services and has raised $820 million in funding so far. The company has been embroiled in legal disputes and controversies over the past two years.

Related News

BharatPe rejigs senior management

Economic Times

Economic Times · 1y ago

BharatPe rejigs senior management

Fintech firm BharatPe has made changes to its senior management team in the payment and lending units. Sandeep Indurkar has been promoted to CEO of payment vertical Resilient Payments Pvt Ltd, while Rijish Raghavan will now handle the device business. Kohinoor Biswas will take over Raghavan's role as head of consumer lending. The three executives will report to BharatPe's CFO and interim CEO Nalin Negi. The company has seen a significant increase in revenue and a reduction in losses before tax. It reported its first operational profit in October 2023.

BharatPe's Merchant Plugin simplifies in-app UPI payments

Inshorts · 6m ago

BharatPe's Merchant Plugin simplifies in-app UPI payments

BharatPe, in collaboration with Unity Bank, has introduced a Merchant Plugin that simplifies in-app payments by integrating in-app UPI payments directly into merchants' applications. According to BharatPe's payment vertical CEO Sandeep Indurkar, it allows in-app payments without the complexities associated with traditional Third-Party Application Provider (TPAP) or API-based approaches.

BharatPe makes another management rejig across verticals

Entrackr

Entrackr · 1y ago

BharatPe makes another management rejig across verticals

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 elevates Nalin Negi as CEO

Thehindubusinessline

Thehindubusinessline · 1y ago

BharatPe elevates Nalin Negi as CEO

BharatPe, a major Fintech player, has promoted Nalin Negi as its CEO after serving as interim CEO and CFO for over a year. Negi was appointed as the CFO in 2022 following the resignation of Suhail Sameer. Under Negi's leadership, BharatPe witnessed a 182% increase in revenue in FY23 and achieved its first EBITDA positive month in October 2023. With over 28 years of fintech and banking experience, Negi will focus on driving innovation and empowering merchants across India. BharatPe will now search for a new CFO. Recently, the company underwent a management restructuring, promoting Sandeep Indurkar as CEO of the payment vertical.

BharatPe appoints former Razorpay executive Pankaj Goel as CTO

Inshorts · 2y ago

BharatPe appoints former Razorpay executive Pankaj Goel as CTO

BharatPe has named Pankaj Goel as its new Chief Technology Officer (CTO), approximately seven months after the departure of former CTO Vijay Aggarwal. Goel, who has previously held leadership roles at companies like Sun Microsystems and Trilogy, will report to interim CEO Nalin Negi and CFO. Prior to joining BharatPe, Goel served as the Head of Payments Engineering at Razorpay.

Fintech firm Perfios rejigs its top deck

Economic Times

Economic Times · 1y ago

Fintech firm Perfios rejigs its top deck

Bengaluru-based fintech company Perfios has made changes to its top leadership. Co-founder Debasish Chakraborty transitioned from CTO to a mentor for the technology team. Sumit Nigam, formerly head of engineering at BigBasket, is now CTO. Anu Mathew, the former chief people officer at Pine Labs, joins as Perfios' first chief people officer. These changes are part of the company's preparation for a public listing in the next 18-24 months and global expansion. CEO Sabyasachi Goswami said further C-suite hires could strengthen the organization from an IPO perspective.

Ex-COO Dhruv Dhanraj Bahl latest to exit BharatPe

Economic Times

Economic Times · 1y ago

Ex-COO Dhruv Dhanraj Bahl latest to exit BharatPe

Bahl played a crucial role in the restructuring of the organisation post the exit of Grover. He had joined the company in 2020 as the head of operations Before joining BharatPe, he worked across organizations such as Airtel Payments Bank, Paytm Bank and Fortis Healthcare.

TCS rejigs top deck, Elizabeth Mathew named head of LeaD

Economic Times

Economic Times · 1y ago

TCS rejigs top deck, Elizabeth Mathew named head of LeaD

TCS has made changes to its top management team, appointing Elizabeth Mathew as the Head of Lead. This comes as TCS aims to strengthen its leadership and drive growth in the technology sector. Mathew will be responsible for leading the company's efforts in key areas such as strategic customer relationships, market development, and global delivery. The move is part of TCS' strategy to adapt to changing market dynamics and enhance its competitive position.

Embedded finance, cross-border payments hold promise: QED's Sandeep Patil

VCCircle

VCCircle · 10m ago

Embedded finance, cross-border payments hold promise: QED's Sandeep Patil

QED Investors, a fintech-focused venture capital firm, has invested $150 million in various Indian companies over the past four years. The firm has backed neobank Jupiter, earned wage access provider Refyne, open finance firm Upswing, and digital credit platform Kodo, among others. Sandeep Patil, partner and Asia head at QED, believes that embedded finance and cross-border payments are areas with significant potential.

PayU eyes B2B pay, credit play under new top brass

Economic Times

Economic Times · 1y ago

PayU eyes B2B pay, credit play under new top brass

PayU, backed by Naspers, is planning to expand into business-to-business (B2B) payments and supply chain financing in India. The company aims to offer vendor payments and solve reconciliation problems for anchor merchants, while also considering small-ticket supply chain financing. PayU is focusing on deploying QR codes and providing omnichannel solutions to clients. With a new CEO and a sharp focus on India, PayU aims to re-establish its position in the domestic payments landscape and grow its revenue from operations other than payments, such as credit.

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