Fintech platform BharatPe on Wednesday said it has appointed former SBI Card CFO Nalin Negi as its new chief financial officer, as it prepares for its initial public offering (IPO). In his new role, Negi will take charge of the finance function for BharatPe and will be working towards making the company EBITDA positive by March 2023. Ebitda stands for earnings before interest, taxes, depreciation, and amortization. He will report to Suhail Sameer, CEO, BharatPe and work closely with the Board of BharatPe, the company said in a statement.
In April, the company announced the appointment of Smriti Handa as the Chief Human Resources Officer. The new appointment comes after BharatPe Co-founder Bhavik Koladiya moved on from the company to pursue other assignments. The company has seen several high-profile exits in recent months, including Ashneer Grover (who triggered a major controversy at the platform); Chief Revenue Officer Nishit Sharma; and Head of Institutional Debt Partnerships, Chandrima Dhar.
About the BharatPe:
“BharatPe is a truly ‘Indian’ payments company serving offline retailers and businesses. We empower the merchants to accept UPI payments for ‘FREE’ through the BharatPe QR. Merchants can sign up instantly and start receiving the funds immediately in their bank account.