Bengaluru: Two senior executives have quit fintech<\/a> firm BharatPe<\/a>, which has been embroiled in controversy since the start of the year. 班加罗尔:两名高管辞职fintech公司BharatPe自年初以来,已卷入争议。
Chief revenue officer Nishit Sharma and head of institutional debt Chandrima Dhar left the company in recent weeks citing personal reasons, people in the know told ET.
“It is still not known whether the company will look to replace these individuals or club some of their functions under the incoming chief financial officer,” one of the people said.
BharatPe did not respond to ET’s queries till press time Wednesday.
While Sharma has been associated with the company since July 2019, Dhar joined in September 2020. During his stint, Sharma was supervising the revenue strategy for its lending and point-of-sale division, BharatPe Swipe.
Dhar was responsible for managing debt procurement as well as handling relationships with its partners in venture debt, non-banking finance and development finance.
BharatPe has been looking for a CFO and said in May that it was in the process to finalise a candidate by the end of the ongoing quarter. Meanwhile, it appointed an executive from professional services firm Alvarez & Marsal as interim CFO.
The company has undergone several rounds of audits in the past few months and has been focusing on bringing new measures to its governance practices.
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It has seen intense investor and media scrutiny after cofounder Ashneer Grover<\/a> in January sought damages from Kotak Mahindra Bank<\/a> managing director Uday Kotak<\/a>, alleging that the lender refused him financing for a personal investment in Nykaa<\/a>’s IPO last November.
At the end of January, BharatPe’s board hired independent auditors A&M and PricewaterhouseCoopers after receiving complaints from an internal whistle-blower on alleged financial malpractices and corporate misgovernance at the firm. This led to the ouster of the company’s head of controls, Madhuri Jain<\/a>, who is also Grover’s wife. Grover himself resigned from the company and its board in March.
Last month, the company made a statement that it served notices to several of its merchants who, it alleged, were involved in incorrect or inflated invoices, and said it established a new vendor procurement policy. It also laid off several employees who were directly involved with these blocked vendors.
ET had first reported on April 1 <\/a>citing BharatPe chairman Rajnish Kumar, that the company was looking to go public in the next 18-24 months.
In October, last year, a consortium comprising BharatPe’s parent Resilient Innovations and Centrum Financial Services got approval to acquire the business of Punjab & Maharashtra Cooperative Bank and aid its resolution.
Also, a joint venture between BharatPe and Centrum, Unity Small Finance Bank, had got the licence to launch a small finance bank.
According to the people cited earlier, the focus of the small finance bank at present is to help the stuck depositors of PMC Bank with their deposits.
Simultaneously, BharatPe is also helping the small finance bank to build its backend tech infrastructure to connect with its own platform as well as with other loan origination channels, they added.
According to BharatPe, it is currently serving more than 8 million merchants at more than 150 cities, and processing annualised payments worth over $16 billion. It has also deployed over 125,000 point-of-sale devices across merchants.
The company, which has raised over $650 million in equity and debt till date, counts Tiger Global, Steadfast Capital, Sequoia Capital, Coatue Management, Ribbit Capital and Beenext among its investors. It was last valued at $2.85 billion in August 2021.
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收入总监Nishit沙玛和主管机构债务Chandrima达离开了公司最近几周因个人原因,知道的人告诉等。
”还不知道该公司是否将取代这些个人或俱乐部的一些函数传入的首席财务官,”一位知情人士说。
BharatPe没有回应等的查询,直到周三新闻时间。
虽然Sharma与该公司2019年7月以来,有关Dhar在2020年9月加入。工作期间,Sharma监督收入策略其贷款和销售点,BharatPe刷卡。
BharatPe一直在寻找一个首席财务官,说可能是在这个过程中敲定候选人正在进行季度末。与此同时,它任命了一名高管从Alvarez & Marsal专业服务公司担任临时首席财务官。
公司已经经历了好几轮的审计在过去的几个月里,一直专注于使其治理实践的新措施。
它严密的投资者和媒体审查后的创始人之一Ashneer Grover1月寻求赔偿科塔克马辛德拉银行董事总经理Uday科塔克,声称该银行拒绝了他个人投资融资Nykaa去年11月的IPO。
在1月底,BharatPe董事会聘请独立审计师农工和普华永道在收到投诉的内部告密者涉嫌金融弊端和企业管理不善的公司。这导致了公司的下台的控制,玛杜丽耆那教徒的,格罗弗的妻子。格罗弗自己3月份辞去了公司及其董事会。
上个月,该公司发表了一个声明,它通知几个商人,它声称,参与不正确或膨胀的发票,它建立了一个新的供应商采购政策。也解雇一些员工直接参与这些阻塞供应商。
首次报道在4月1日援引BharatPe Rajnish Kumar董事长,该公司将在未来18 - 24个月上市。
去年10月,组成的一个财团BharatPe的母公司弹性和中枢金融服务创新有批准收购业务的旁遮普和马哈拉施特拉邦合作银行和援助的决议。
BharatPe和椎体之间的合资企业,统一小型金融银行,已经推出一个小型金融银行的牌照。
根据人早些时候引用,小型金融银行目前的重点是帮助了PMC银行储户的存款。
同时,BharatPe也帮助小型金融银行构建它的后端科技基础设施联系自己的平台以及与其他贷款发放渠道,他们补充说。
根据BharatPe,目前服务于800万多商家在150多个城市,和处理年度支付价值超过160亿美元。它还部署了超过125000个销售点设备商人。
公司筹集到6.5亿美元的股票和债券,直到目前为止,计数老虎全球,坚定的资本、红杉资本,Coatue管理,资本和Beenext Ribbit的投资者之一。这是2021年8月去年价值28.5亿美元。
Bengaluru: Two senior executives have quit fintech<\/a> firm BharatPe<\/a>, which has been embroiled in controversy since the start of the year.
Chief revenue officer Nishit Sharma and head of institutional debt Chandrima Dhar left the company in recent weeks citing personal reasons, people in the know told ET.
“It is still not known whether the company will look to replace these individuals or club some of their functions under the incoming chief financial officer,” one of the people said.
BharatPe did not respond to ET’s queries till press time Wednesday.
While Sharma has been associated with the company since July 2019, Dhar joined in September 2020. During his stint, Sharma was supervising the revenue strategy for its lending and point-of-sale division, BharatPe Swipe.
Dhar was responsible for managing debt procurement as well as handling relationships with its partners in venture debt, non-banking finance and development finance.
BharatPe has been looking for a CFO and said in May that it was in the process to finalise a candidate by the end of the ongoing quarter. Meanwhile, it appointed an executive from professional services firm Alvarez & Marsal as interim CFO.
The company has undergone several rounds of audits in the past few months and has been focusing on bringing new measures to its governance practices.
It has seen intense investor and media scrutiny after cofounder Ashneer Grover<\/a> in January sought damages from Kotak Mahindra Bank<\/a> managing director Uday Kotak<\/a>, alleging that the lender refused him financing for a personal investment in Nykaa<\/a>’s IPO last November.
At the end of January, BharatPe’s board hired independent auditors A&M and PricewaterhouseCoopers after receiving complaints from an internal whistle-blower on alleged financial malpractices and corporate misgovernance at the firm. This led to the ouster of the company’s head of controls, Madhuri Jain<\/a>, who is also Grover’s wife. Grover himself resigned from the company and its board in March.
Last month, the company made a statement that it served notices to several of its merchants who, it alleged, were involved in incorrect or inflated invoices, and said it established a new vendor procurement policy. It also laid off several employees who were directly involved with these blocked vendors.
ET had first reported on April 1 <\/a>citing BharatPe chairman Rajnish Kumar, that the company was looking to go public in the next 18-24 months.
In October, last year, a consortium comprising BharatPe’s parent Resilient Innovations and Centrum Financial Services got approval to acquire the business of Punjab & Maharashtra Cooperative Bank and aid its resolution.
Also, a joint venture between BharatPe and Centrum, Unity Small Finance Bank, had got the licence to launch a small finance bank.
According to the people cited earlier, the focus of the small finance bank at present is to help the stuck depositors of PMC Bank with their deposits.
Simultaneously, BharatPe is also helping the small finance bank to build its backend tech infrastructure to connect with its own platform as well as with other loan origination channels, they added.
According to BharatPe, it is currently serving more than 8 million merchants at more than 150 cities, and processing annualised payments worth over $16 billion. It has also deployed over 125,000 point-of-sale devices across merchants.
The company, which has raised over $650 million in equity and debt till date, counts Tiger Global, Steadfast Capital, Sequoia Capital, Coatue Management, Ribbit Capital and Beenext among its investors. It was last valued at $2.85 billion in August 2021.
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