Indian digital payments fintech BharatPe has promoted Nalin Negi, its CFO of almost two years, to the position of permanent CEO.
Negi has acted as the fintech’s interim boss since January last year, when Suhail Sameer – who had served as BharatPe’s CEO since August 2020 – departed the post.
Rajnish Kumar, chairman of BharatPe’s board, states that Negi’s “extensive experience” and the growth accumulated under his leadership designates him as a “natural choice to lead the company”.
The fintech claims to have recorded a 182% increase in revenue from operations during his tenure as interim CEO, and marked its first EBITDA-positive month last October.
Moreover, it states that its new boss’ strengths lie in formulating and implementing strategies that leverage market opportunities, and “fostering a culture of innovation and customer-centricity”.
Prior to joining BharatPe in 2022, Negi served as CFO for the Indian credit card company and payment provider SBI Card – where he is credited with steering the company’s IPO – as well as a controller for GE Capital Services India.
Commenting on the fintech’s “strategic focus” now that he has taken the company reigns permanently, Negi asserts that BharatPe will concentrate on “sustained profitability, scaling lending businesses, and launching new merchant-centric products”.
BharatPe, which was founded in 2018 and is noted for launching India’s first UPI interoperable QR code, says it will now begin its search for a new CFO.
Source: fintechfutures.com
