City
Epaper

Fintech platform BharatPe appoints new CFO amid IPO plans

By IANS | Updated: August 3, 2022 21:41 IST

New Delhi, Aug 3 Fintech platform BharatPe on Wednesday said it has appointed former SBI Card CFO Nalin ...

Open in App

New Delhi, Aug 3 Fintech platform BharatPe on Wednesday said it has appointed former SBI Card CFO Nalin Negi as its new chief financial officer, as it prepares for its initial public offering (IPO).

In his new role, Negi will take charge of the finance function for BharatPe and will be working towards making the company EBITDA positive by March 2023.

He will report to Suhail Sameer, CEO, BharatPe and work closely with the Board of BharatPe, the company said in a statement.

"His experience of listing SBI Card will be instrumental for us as we aim to go public in FY25," said Sameer.

BharatPe closed the first quarter of FY23 with over Rs 3,600 crore in total loans facilitated and $18 billion in annualised TPV in payments.

"The company has become a preferred and trusted partner for millions of offline merchants in just 4 years of launch," said Negi, who will lead the financial readiness of the company as it prepares for the IPO.

In April, the company announced the appointment of Smriti Handa as the Chief Human Resources Officer.

The new appointment comes after BharatPe Co-founder Bhavik Koladiya moved on from the company to pursue other assignments.

The company has seen several high-profile exits in recent months, including Ashneer Grover (who triggered a major controversy at the platform); Chief Revenue Officer Nishit Sharma; and Head of Institutional Debt Partnerships, Chandrima Dhar.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Tags: Nalin negiSuhail sameerFintechEbitda
Open in App

Related Stories

MumbaiPM Modi in Mumbai: Over $31 Billion Invested in Fintech Sector, 500% Startup Growth in Last 10 Years, Says Prime Minister at GFF 2024

NationalHealth Care Revolution to FinTech Innovations: Future Landmarks India aims to achieve

TechnologyIndian startup ecosystem logs lowest funding in 4 years

TechnologyIndian startup ecosystem logs lowest funding in 4 years

TechnologyFlipkart, Axis Bank join hands to facilitate personal loans for customers

Technology Realted Stories

TechnologySensex, Nifty trade in green amid positive global cues

TechnologyApple clocks quarterly record in India, new retail stores coming this year: Tim Cook

TechnologyZoho CEO Sridhar Vembu has no ‘confidence in tech’, shelves $700 million chip plan

TechnologyYouTube commits Rs 850 crore to power India’s ‘Creator Nation’: CEO Neal Mohan

TechnologyApple clocks 28 pc growth in iPhone shipments in India: Industry data