BharatPe Appoints Nalin Negi As CEO

BharatPe has appointed Nalin Negi as its new CEO, a role he held on an interim basis since January 2023 following the departure of Suhail Sameer. Prior to his CEO position, Negi served as the company's chief financial officer after joining in August 2022.

With over 28 years of experience in fintech and banking, Negi brings a wealth of expertise to BharatPe. Before joining the company, he served as CFO at SBI Cards for five years and held roles at GE Capital Services India and Exl Services.

In FY23, BharatPe experienced significant growth, with revenue increasing by 182 per cent from Rs 321 crore in FY22 to Rs 904 crore in FY23. The company also made substantial strides in reducing pre-tax losses, decreasing from Rs 5,594 crore to Rs 886 crore. Additionally, earnings before interest, taxes, depreciation and amortisation (EBITDA) losses decreased by approximately Rs 158 crore, reflecting the company's focused efforts towards financial sustainability.