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BharatPe Appoints Nalin Negi as CEO, Targets Sustainable Growth

BharatPe, a leading fintech company, has announced the appointment of Nalin Negi as its chief executive officer (CEO). Negi, who previously served as the company's chief financial officer, took on the role of interim CEO in January last year.

In a press release, BharatPe stated that it would initiate a search for a new chief financial officer.

Under Negi's leadership, BharatPe reported a 182% increase in revenue from operations in FY23. October 2023 marked the first EBITDA positive month for the company.

Negi, who joined BharatPe in 2022, will focus on driving the next phase of development and innovation to empower merchants nationwide. Prior to joining BharatPe, Negi held several senior leadership positions at SBI Cards and GE Capital.

In a statement, Negi emphasized the company's strategic focus on sustained profitability, scaling its lending businesses, and launching new merchant-centric products.

BharatPe has been undergoing a transformation to strengthen its leadership team across three verticals. The company recently reorganized its three verticals—Resilient Innovations Private Limited (merchant app), Resilient Payments Private Limited (payment unit), and Resilient Digi Services Private Limited (lending unit).

Earlier this year, BharatPe completed a $100 million debt round from InnoVen Capital and Credit Saison in January.

Financially, BharatPe appears to be on a path to recovery, with the company claiming that its annualized revenue has surpassed Rs 1,500 crore, marking over 30% growth compared to FY23. In FY23, the company crossed the Rs 1,000 crore revenue mark, although its EBITDA loss increased by 9% to Rs 772 crore.


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