bharatpe: BharatPe rejigs senior management

Fintech firm BharatPe is learnt to have rejigged senior management of its payment and lending unit verticals, according to sources. The company has elevated its banking and alliance Chief Business Officer Sandeep Indurkar as CEO of payment vertical — Resilient Payments Pvt Ltd.

CEO BharatPe’s Zillion — erstwhile Payback India — Rijish Raghavan will now handle device business of the company.

The company’s head for consumer lending vertical Kohinoor Biswas will handle Zillion in place of Raghavan.

All three will report to BharatPe’s CFO and interim CEO Nalin Negi.

An emailed query sent to BharatPe elicited no response.

There has been no change in the merchant app vertical.

The company has seen improvement in business with 182 per cent year-on-year increase in revenue from operations to Rs 904 crore in FY23, while loss before tax fell to Rs 886 crore from Rs 5,594 crore during the period. A significant progress was made in reducing loss before tax, from Rs 5,594 crore to Rs 886 crore, according to the company.

BharatPe reported its first operational profit in October 2023.