BharatPe appoints Nalin Negi as new CEO
What's the story
BharatPe has promoted Nalin Negi to the position of Chief Executive Officer.
Negi joined the company in 2022 and has been serving as interim CEO and CFO since January 2023, following the departure of former CEO Suhail Sameer.
With his official appointment, BharatPe is now seeking a new CFO.
Rajnish Kumar, chairman of BharatPe's board, said, "We look forward to supporting Nalin Negi in his new role and are grateful for his tremendous contribution as the interim CEO."
Revenue surge
Negi's leadership spurs BharatPe's significant growth
Under Negi's interim leadership, BharatPe experienced a significant revenue growth, recording a 182% increase in FY23.
The company also marked its first EBITDA-positive month in October 2023.
Negi brings over 28 years of experience in the fintech and banking sectors to his new role as CEO, having held senior positions at SBI Card and GE Capital prior to joining BharatPe.
Strategic focus
CEO Negi outlines future strategy for BharatPe
As CEO, Negi will lead BharatPe's next growth phase and foster innovation to support merchants across India.
"Our strategic focus will be on sustained profitability, scaling lending businesses, and launching new merchant-centric products," stated Negi.
He emphasized the company's commitment to promoting financial inclusion and delivering value to its merchants, partners, and stakeholders.