BharatPe cofounder and COO Shashvat Nakrani has stepped away from his executive role at the fintech unicorn to “explore new ideas and ventures”

Nakrani said he will transition into a strategic advisor role from May and will continue to serve as a director upon BharatPe’s board

In his non-executive role, Nakrani will be engaged in areas such as fundraising, IPO plans, mergers and acquisitions, and long-term strategy

In another leadership change for BharatPecofounder and COO Shashvat Nakrani has stepped away from his executive role at the fintech unicorn to “explore new ideas and ventures”.

In a post on Linkedin, Nakrani said he will transition into a strategic advisor role from May and will continue to serve as a director upon BharatPe’s board. In his non-executive role, Nakrani will be engaged in areas such as fundraising, IPO plans, mergers and acquisitions, and long-term strategy.

Nakrani cofounded BharatPe with Bhavik Koladiya in 2018. Later, ex-Grofers CFO Ashneer Grover joined the startup as its third cofounder within the same year. Both Koladiya and Grover departed from the startup in 2022.

Nakrani said he remains the largest individual shareholder in BharatPe. He intends to stay invested in the startup’s long-term journey.

The startup, he noted, will continue to be led by its existing management team and board, which he said are well placed to guide its future.

His exit from daily operations comes at a time when BharatPe is working to strengthen its business and governance after a series of leadership changes over the past few years.

Leadership Shuffle At BharatPe

The company’s leadership came under strain in 2022 after Grover and his wife Madhuri Jain Grover were removed following a board-led probe into alleged financial irregularities. The episode triggered a wider shake-up within the company.

Several senior executives, including CTO Vijay Aggarwal, PostPe head Nehul Malhotra and lending product head Rajat Jain, exited around the same time. CRO Nishit Sharma and founding member Satyam Nathani also left, while cofounder Bhavik Koladiya departed in August 2022.

Suhail Sameer, who had joined BharatPe as president in 2020 became CEO in 2021, took charge during this period. He also stepped down in January 2023, moving into an advisory role. Nalin Negi, then CFO, was appointed interim CEO and later named full-time CEO in April 2024.

Since then, BharatPe has been rebuilding its leadership team. It restructured its business units in 2024. The startup appointed Sandeep Indurkar as the lead for its payments business, while Kohinoor Biswas took charge of the loyalty arm Zillion.

The company made further changes in 2025, including appointing Ajit Kumar as CTO, Siddhartha Jain as chief network officer, and Sandeep Singh as CEO of its lending arm Trillion Loans.

Separately, BharatPe settled its dispute with Grover in September 2024, bringing an end to a long-running legal battle.

BharatPe’s Business Amid The Turmoil

Amid this leadership reshuffle, the company has worked to stabilise operations and improve its financial position. In the fiscal year FY25, the startup narrowed its net losses by 82% to ₹88.2 Cr in FY25 compared to ₹492 Cr in the prior fiscal year. Operating revenue rose nearly 17% to ₹1,667 Cr in the fiscal under review as against ₹1,426.1 Cr in FY24.

A key part of this turnaround has been a shift in focus from pure payments to lending-led growth. BharatPe now earns the bulk of its revenue from merchant-focused products such as loans, PoS devices and subscription services.

The company has also built a stronger lending stack through its stake in Unity Small Finance Bank and its NBFC arm, Trillion Loans. This dual structure allows BharatPe to underwrite a part of its loan book while continuing partnerships with other lenders.

Parallely, the company has also started expanding its consumer offerings, including bill payments, credit products on UPI and a separate wealthtech app launched in 2024.

BharatPe is also preparing for a potential IPO in the next 10-12 months, subject to sustained profitability.

Edited by Akshit Pushkarna