BharatPe’s Chief Business Officer Dhruv Dhanraj Bahl Steps Down
- ByStartupStory | August 29, 2023
Dhruv Dhanraj Bahl, the Chief Business Officer (CBO) overseeing the merchant lending business at BharatPe, has submitted his resignation, joining the ranks of senior leaders who have left the fintech company in the past year.
Bahl joined the company in 2020 as the Head of Operations and later rose to the position of Chief Operating Officer. Recently, he was reassigned as the CBO of BharatPe’s merchant lending division. In a statement provided to YourStory, the company stated, “We would like to confirm that Mr. Bahl is moving on from BharatPe to pursue his entrepreneurial passions. He has been an integral part of the organization and contributed to the growth of the company. We thank him for his contribution to BharatPe’s journey and wish him all the best for future endeavors.”
Before his tenure at BharatPe, Bahl held positions at organizations including Airtel Payments Bank, Paytm Bank, and Fortis Healthcare. Over the past year, BharatPe, backed by Tiger Global, has witnessed the departure of top-level leaders, including co-founders Satyam Nathani and Bhavik Koladiya, Suhail Sameer (CEO), Nishit Sharma (CRO), Geetanshu Singla (VP, Technology), Nehul Malhotra (PostPe head), and Rajat Jain (CPO, lending and consumer products)
BharatPe has undergone team realignment this year. Pankaj Goel, former SVP at Razorpay, was brought in as the new Chief Technology Officer, while Sandeep Indurkar, a veteran from ICICI Bank, was appointed as the Chief Business Officer of banking and alliances. The company also welcomed Aparna Kuppuswamy as the Chief Risk Officer and Kohinoor Biswas as the Head of the consumer lending business. In the quest for a CEO, BharatPe appointed risk and compliance expert Rahul Bhatia as the head of internal audit and banking industry veteran Ravinder Oberoi as the head of compliance in January. Meanwhile, CFO Nalin Negi continues to serve as the interim CEO.
In the merchant lending vertical, several fintech firms, including PhonePe and Mobikwik, have entered the arena after BharatPe and Paytm. These companies, in collaboration with banks and NBFCs, are venturing into the space to provide small loans to their merchant clientele. In a significant push towards lending, BharatPe acquired a majority stake in Mumbai-based NBFC Trillion Loans in April to bolster its merchant lending vertical launched in 2019. The company claims to serve over 1 crore merchants across more than 400 cities and states it has already facilitated loan disbursements worth nearly Rs 8,000 crore to date. The company remarked, “The merchant lending business at BharatPe has experienced significant growth in the last year under the guidance of an experienced leadership team. BharatPe possesses a robust internal team that will continue driving growth in the future.”
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