Former SBI Card CFO Nalin Negi joins BharatPe as its Chief Financial Officer
- ByStartupStory | August 4, 2022
BharatPe named Nalin Negi as its chief financial officer (CFO) one day after the co-founder and head of its development team, Bhavik Koladiya, left the fintech powerhouse. When SBI Card went public in 2020, Nalin was in charge of the credit card services business. He had previously served as its CFO. He is anticipated to guide the business as it gears up for its IPO and pursues its goal of becoming EBITDA-positive by March 2023.
Nalin has over 25 years of expertise in the sector and has worked for American Express, Nestle India, ITC Ltd., and EXL Service, among other organisations. After Nishit Sharma, a former chief revenue officer, and Chandrima Dhar, who oversaw institutional debt at BharatPe, left the company, Alvarez & Marsal, a professional services company, was named as the interim CFO in Nalin’s place.
Suhail Sameer, the CEO of BharatPe said, “His in-depth understanding of banking and financial services will be helpful to us as we scale up and create fintech solutions that are in line with our aim to promote financial inclusion in the nation. We would benefit greatly from Nalin’s experience listing SBI Card as we seek to go public in FY25.”
Nalin stated, “The company plans to achieve profitability, go public, and establish India’s first entirely digital bank over the course of the next two years, which will be thrilling. I’m excited to collaborate with Suhail and the BharatPe leadership team on the organization’s upcoming phase of growth.”
About BharatPe
Ashneer Grover and Shashvat Nakrani co-founded BharatPe in 2018 with the goal of bringing financial inclusion to Indian business owners. The first ZERO MDR payment acceptance service, the first UPI payment-backed merchant cash advance service, and the first UPI payment interoperable QR code were all introduced by BharatPe.
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