BharatPe, a prominent player in India’s fintech sector, has announced the elevation of Nalin Negi to the position of Chief Executive Officer (CEO).
Negi’s ascent to the top echelon comes on the heels of his stint as the interim CEO, a role he assumed following the departure of former executive Suhail Sameer in January 2023.
Negi, who previously served as the company’s Chief Financial Officer (CFO) and interim CEO, has been entrusted with the task of leading BharatPe into its next phase of development.
Under his guidance, BharatPe achieved significant milestones, including a remarkable 182% increase in revenue from operations during the fiscal year 2022-23.
Additionally, the company attained its first Ebitda-positive month in October, signaling robust financial performance under Negi’s stewardship.
In his new role, Negi will focus on scaling BharatPe’s lending businesses and introducing innovative, merchant-centric products aimed at empowering micro, small, and medium enterprises (MSMEs) across India.
“His extensive experience in the fintech industry and the growth witnessed by BharatPe under his leadership, makes him a natural choice to lead the company. We are confident that Nalin’s deep knowledge and passion to drive innovation will continue to strengthen our position, empowering millions of MSMEs in their digital journey,” said Rajnish Kumar, chairman of the board at BharatPe.
Negi’s background includes senior leadership positions at renowned financial service organizations such as SBI Card and GE Capital.
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Founded in 2018, BharatPe has rapidly expanded its network to encompass over 13 million merchants across more than 450 cities in India.
The company has garnered significant investor interest, raising over $583 million in equity funding from reputable firms such as Peak XV Partners, Ribbit Capital, Beenext, and Tiger Global.
