Ex-SBI Cards executive Nalin Negi joins BharatPe as CFO

Updated on: 6 August 2022 7:01 pm

The Mumbai-based start-up joined the unicorn club this year after raising $100 million in a funding round led by WestBridge Capital

After Vedantu, edtech LEAD lays off over 80 staffers Photo: The Mumbai-based start-up joined the unicorn club this year after raising $100 million in a funding round led by WestBridge Capital

Fintech BharatPe has appointed former Nalin Negi as its Chief Financial Officer (CFO). In April 2022, in another senior executive appointment, the company onboarded Smriti Handa as its chief human resources officer.

In a statement, the fintech stated that Negi will work towards making the company EBITDA positive by March 2023. He will also lead the Sequoia-backed unicorn through its path to an initial public offering (IPO) which the company plans within two years.

This would be Negi's second time helping a company debut on the stock market. In his earlier stint as CFO of SBI Cards, he led the financial institution's IPO in March 2020. He has also worked with American Express, EXL Service India, Nestle India Limited, and ITC Limited. At BharatPe, he will report to the CEO, Suhail Sameer and the Board.

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While the company is bolstering its C-suite, it has also seen high-profile departures in the past few weeks. The latest to head for the exit was Bhavik Koladiya, who co-founded the start-up along with Ashneer Grover and Shashvat Nakrani.

In June, another founding member, Satyam Nathani, also put in his papers. Other senior executives who decided to move on included its chief revenue officer, Nishit Sharma, and head of institutional debt partnerships, Chandrima Dhar.