BharatPe co-founder Shashvat Nakrani steps down as operating chief
What's the story
BharatPe co-founder Shashvat Nakrani has announced his resignation as the company's Chief Operating Officer (COO). He will continue to serve as a director on the board. The transition will take effect from May 1. In a LinkedIn post, Nakrani said he is moving from day-to-day execution to a strategic advisor role.
Speculation
Nakrani's potential new venture
While Nakrani has not revealed his future plans, insiders suggest he may be looking to start a new venture. His exit from the company will leave BharatPe under professional management entirely. The other two co-founders, namely Bhavik Koladiya and Ashneer Grover, had also left the fintech firm in recent years.
Transition
Transition to founder role
According to Tracxn data, Nakrani owns a 10.8% stake in BharatPe. A company spokesperson confirmed that he will be transitioning to the role of founder and director. This move will allow him to stay involved with the firm's direction while also exploring new entrepreneurial ideas.
Company growth
BharatPe's transformation under new CEO
Under the leadership of CEO Nalin Negi, who took over in April 2024, BharatPe has evolved from a QR-code based payment service to a full-stack consumer and merchant payments and lending firm. Speaking to The Economic Times in August last year, Negi had said the company had generated around ₹1,000 crore in revenue from its core financial services business alone.