BharatPe names Nalin Negi as its new CEO

Fintech major BharatPe has appointed Nalin Negi as the new CEO of the company. He joined BharatPe as CFO in August 2022 and was appointed as interim CEO in January 2023, following the exit of former CEO Suhail Sameer. With over 28 years of experience in the fintech and banking sector, Negi’s vast experience with SBI Cards where he worked as the CFO has come quite handy in his latest assignment.

Under Negi's leadership, BharatPe recorded a 182% increase in revenue from operations in FY23 and had its first Ebitda-positive month in October, the company said in a statement.

“As the CEO, he will focus on leading the company into its next phase of development, driving innovation to empower merchants across the country," BharatPe said.

Negi said in the statement that the company would be focused on scaling its lending businesses, and launching new merchant-centric products.

BharatPe will now look to appoint a new CFO, it added.

BharatPe, founded in 2018, has a network of more than 13 million merchants across more than 450 cities. The company has raised more than $583 million in equity so far, and counts Peak XV Partners (formerly Sequoia Capital India), Ribbit Capital, Beenext, and Tiger Global as investors.