BharatPe, a prominent payments startup, has recently announced the elevation of Nalin Negi as its Chief Executive Officer (CEO). This move comes as a testament to Negi’s exceptional leadership skills and his significant contributions to the company since joining as the Chief Financial Officer (CFO) in 2022. Negi had been serving as the interim CEO since January 2023, following the departure of former CEO Suhail Sameer. With this appointment, BharatPe aims to further strengthen its position as India’s leading fintech company.
Negi’s Background and Accomplishments:
Before joining BharatPe, Nalin Negi held the position of CFO at SBI Card for over 10 years, where he played a pivotal role in leading the credit card giant towards its successful initial public offering (IPO) in March 2020. With his extensive experience in the fintech industry, Negi brings a wealth of knowledge and expertise to his new role as CEO of BharatPe. He has also previously worked with GE Capital, further adding to his diverse background in the financial sector.
Negi’s Role as Interim CEO and CFO:
During his tenure as the interim CEO and CFO, Nalin Negi has been instrumental in driving significant growth and strategic advancements across various key business segments at BharatPe. Under his leadership, the company recorded an impressive 182% increase in revenue from operations in FY23. Additionally, October 2023 marked the first EBITDA positive month for BharatPe. Negi’s ability to navigate the challenges of the fintech industry and drive innovation has resulted in the company’s continued success and expansion.
BharatPe’s Future Direction:
As the newly appointed CEO, Nalin Negi aims to guide BharatPe towards sustained profitability while scaling its lending businesses and introducing new merchant-centric products. The company’s strategic focus will revolve around fostering financial inclusion, empowering millions of Micro, Small, and Medium Enterprises (MSMEs) in their digital journey. With a network of over 1.3 crore merchants and a strong track record of processing payments and facilitating loans, BharatPe is poised to make further strides in the Indian fintech landscape under Negi’s leadership.
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Rejig of Senior Management:
In addition to Negi’s appointment, BharatPe recently made changes to its senior management team within the payment and lending units. Sandeep Indurkar, the Chief Business Officer of banking and alliances, has been promoted to the role of CEO of the payment vertical, Resilient Payments Pvt Ltd. Rijish Raghavan will now oversee the device business, and Kohinoor Biswas will handle Zillion, BharatPe’s multi-brand loyalty program. All three executives will report directly to Nalin Negi, ensuring a cohesive leadership structure within the company.
Inspiring Confidence?
BharatPe’s decision to elevate Nalin Negi as CEO reflects the company’s commitment to nurturing top talent and capitalizing on their expertise. Negi’s experience in the fintech industry, coupled with his proven track record of driving growth, positions him well to lead BharatPe in its quest to empower MSMEs and strengthen its position as India’s preferred fintech company. With a focus on sustained profitability, innovation, and expanding its product offerings, BharatPe is poised for continued success under Negi’s leadership in the rapidly evolving digital payments landscape.
Read Ful story on: Moneycontrol