Over the last year, BharatPe has seen a top-level exodus in senior management with Nehul Malhotra, head of buy-now-pay-later product, PostPe; Vijay Aggarwal, chief technology officer; Rajat Jain, chief product officer for lending and consumer products, and Geetanshu Singla, vice president, technology, resigning from the startup.
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In August this year, chief operating officer Dhruv Dhanraj Bahl quit the five-year-old fintech.
ET had also exclusively reported on September 5 that Nishant Jain, chief business officer, Prashant Gagneja, vice president of organised trade (mid-sized retailers), Ashish Aggarwal, vice president in charge of user growth, Anurag Rathod, vice president of products, and Rahul Chauhan, who was head of product design , were the latest additions to the senior exits.
Confirming Jain’s exit, BharatPe said, “We would like to confirm that Ankur Jain has decided to move on from BharatPe to pursue his entrepreneurial ambitions. He has been an integral part of the company’s journey over the last 3.5 years and has built and led a super talented team that brought to life disruptive fintech products for merchants and consumers.”
The Stanford-alumnus, who joined BharatPe in June 2020 as CPO, has previously worked with the likes of Walmart Labs and Kosmix in the US.
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News portal Entrackr was first to break the news around Jain’s exit on Friday evening.“We are in the process of looking for a seasoned product leader to take over this role and will be making a formal announcement on the same soon,” the company said in response to ET’s queries.
In January, BharatPe’s former chief executive Suhail Sameer also moved on to transition into becoming a strategic advisor to the company. Chief financial officer Nalin Negi was appointed as the interim CEO then.
BharatPe is yet to fill the position of chief executive after Sameer’s exit.
The company had last raised equity funding in 2021, raising around $370 million at a valuation of $2.9 billion, when Tiger Global Management joined the company’s cap table. It is currently in the market to raise at least $100 million from investors.
In FY22, the company had reported total revenue of Rs 680 crore and a net loss of Rs 5,610 crore.