Fintech leader BharatPe has promoted Nalin Negi to the role of chief executive officer, following his tenure as interim CEO and CFO for over a year. Negi initially stepped into the CFO role in 2022, following the departure of the former top executive, Suhail Sameer, in January 2023. His effective leadership has been pivotal in propelling significant growth and strategic enhancements within the company.
During his leadership, BharatPe achieved a striking 182% rise in revenue from operations in FY23 and recorded its first EBITDA-positive month in October 2023, as stated by the company. BharatPe is currently in the process of recruiting a new CFO.
Bringing over 28 years of experience in the fintech and banking sectors, Negi has a proven track record in developing and expanding businesses. In his new capacity as CEO, he aims to guide BharatPe through its next developmental phase, focusing on innovations that support merchants nationwide.
Rajnish Kumar, Chairman of the Board at BharatPe, commented on the appointment: “His extensive experience in the fintech industry and the growth witnessed for BharatPe under his leadership, makes him a natural choice to lead the company. We are confident that Nalin’s deep knowledge and passion to drive innovation will continue to strengthen our position as India’s most preferred fintech company, empowering millions of MSMEs in their digital journey.”
Before joining BharatPe, Negi held several prominent roles at major financial institutions, including SBI Cards and GE Capital, where he was instrumental in enhancing profitability, fostering strategic partnerships, and leading the SBI Cards IPO.
Reflecting on his new role, Negi said, “BharatPe was started with the vision of empowering millions of offline merchants and MSMEs across the country, with best-in-class fintech products. I am excited and honoured to take on this new role at BharatPe. Going forward, our strategic focus will be on sustained profitability, scaling lending businesses, and launching new merchant-centric products.”
Earlier this month, BharatPe also restructured its senior management in the payments and lending divisions, promoting Sandeep Indurkar, the former Chief Business Officer for banking and alliances, to CEO of the payment vertical.
