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BharatPe co-founder Shashvat Nakrani steps down from operating role

EntrackrEntrackr · 2d ago
BharatPe co-founder Shashvat Nakrani steps down from operating role
Medial

Snippets BharatPe co-founder Shashvat Nakrani steps down from operating role Fintech unicorn BharatPe’s co-founder Shashvat Nakrani has stepped down from his role as founder and director, representing the exit of all original founders from active operational roles at the company. In a LinkedIn post, Nakrani indicated that he is considering a return to entrepreneurship, though plans are yet to be finalised. “I’ll remain closely involved at the strategic level while also giving myself the space to work on these ideas that feel like a new chapter for me,” he wrote. Earlier, co-founder Bhavik Koladiya exited the firm in mid-2022, while BharatPe later resolved its long-running legal and public disputes with former co-founder Ashneer Grover through a comprehensive settlement in September 2024. Nakrani’s transition comes as the Delhi-based company prepares for a potential public listing by the end of FY27 or mid-FY28. BharatPe is a fintech platform that powers over 10 million offline merchants and kirana stores with digital payments and financial services, including zero-MDR UPI QR codes, lending, POS, and investment products. In March 2026, the Coatue Management-backed firm appointed Himanshu Verma as Head of its POS business. BharatPe reported a profit of Rs 6 crore on revenue of Rs 1,800 crore in the fiscal year ending March 2025.

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BharatPe Vs Ashneer Grover: Ex-MD Seeks RBI Probe Into The Fintech Unicorn’s Shareholding

Inc42Inc42 · 2y ago
BharatPe Vs Ashneer Grover: Ex-MD Seeks RBI Probe Into The Fintech Unicorn’s Shareholding
Medial

Former BharatPe MD and co-founder, Ashneer Grover, has written a letter to the Reserve Bank of India (RBI) requesting an investigation into the shareholding of the fintech unicorn. Grover has accused BharatPe of deliberately "defrauding" the RBI by bringing back Bhavik Koladiya to the company's cap table after securing licences. Grover has demanded that all of BharatPe's licenses be revoked if the company is found guilty, and he also calls for penalties and blacklisting of the venture firms associated with the startup. Additionally, Grover alleges that BharatPe co-founder Shashvat Nakrani transferred shares to Koladiya for free. BharatPe has raised over $650 million in funding from investors such as Peak XV Partners, Ribbit Capital, and Steadview Capital.

MobiKwik’s Consumer Payments COO Mohit Narain steps down

EntrackrEntrackr · 5m ago
MobiKwik’s Consumer Payments COO Mohit Narain steps down
Medial

MobiKwik’s Consumer Payments COO Mohit Narain steps down Digital payments company MobiKwik has announced the resignation of its Chief Operating Officer for Consumer Payments, Mohit Narain, citing health reasons. According to a stock exchange filing, Narain will step down from his role effective from the close of business hours on October 24, 2025. The company said his decision comes after being advised to take rest and focus on recovery. Narain joined MobiKwik in mid-2018 and was elevated to COO for Consumer Payments in February last year to oversee operations across UPI, Wallet, QR, and devices. This is the second high-profile exit from the company in 2025. In January, Chandan Joshi, the co-founder and CEO of the payments division, stepped down. The firm had also announced key leadership promotions earlier this year to strengthen its core operations. In January, Saurabh Dwivedi was promoted to Chief Technology Officer (CTO), while Dhruv Wadhera was elevated to Senior Vice President (SVP), Offline Payments. MobiKwik’s operating revenue fell 21% to Rs 271 crore in Q1 FY26 from Rs 342 crore in Q1 FY25, while the company’s losses rose over 6X to Rs 42 crore in Q1 FY26 compared to the same quarter last year.

OfBusiness co-founder Nitin Jain steps down to start new venture

EntrackrEntrackr · 4m ago
OfBusiness co-founder Nitin Jain steps down to start new venture
Medial

Nitin Jain, co-founder and chief business officer of business-to-business (B2B) e-commerce platform OfBusiness and its lending arm Qxyzo, has quit his role and plans to launch a new venture. Jain announced his departure from the Gurugram-based company through a LinkedIn post. According to an ET report, Jain had planned to exit the company last year and had stepped down as CBO, before later returning to the role while simultaneously holding talks with investors to raise funds for his new venture. Co-founded in 2016 by Asish Mohapatra, Ruchi Kalra, Vasant Sridhar, Bhuvan Gupta, and Jain, OfBusiness provides raw material procurement and financing solutions to SMEs operating in the manufacturing and infrastructure sectors through its platform.

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