Fintech major BharatPe has elevated Nalin Negi as its chief executive officer, after more than a year after he took over as interim CEO and CFO.

Negi was appointed as its chief financial officer in 2022 after its then top executive Suhail Sameer stepped down in January 2023. He was was instrumental in driving the company’s significant growth and strategic advancements across key business segments.

Under his leadership, BharatPe witnessed a remarkable 182 per cent increase in revenue from operations in FY23 and achieved its first EBITDA positive month in October 2023, the company said in a statement. BharatPe will now look to appoint a new CFO, it added.

With over 28 years of experience in fintech and banking, Negi specialises in building and scaling businesses. As the CEO, he will focus to lead the company into its next phase of development, driving innovation to empower merchants across the country.

“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,” said Rajnish Kumar, Chairman of the Board, BharatPe

Prior to joining BharatPe, Nalin Negi held several senior leadership positions at renowned financial service organizations including SBI Cards and GE Capital, where he played instrumental roles in driving profitability, strategic partnerships with businesses, and steering SBI Cards IPO.

“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,” said

Earlier this month, BharatPe underwent a significant restructuring of its senior management within the payment and lending sectors. The startup promoted Sandeep Indurkar, previously the Chief Business Officer (CBO) for banking and alliances, to the position of CEO of the payment vertical.

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