Vivid News 24: The Sequoia-backed BharatPe is always shaking. Suhail Sameer, the company’s chief executive officer, quit two weeks ago, according to two sources, following the year’s noteworthy events. After Bhavik Koladiya, Chief Revenue Officer Nitish Sharma, and Chandrima Dhar left the company in June, this represents yet another significant departure.
In response to a request for anonymity, one of the individuals stated, “Sameer resigned two weeks ago and is on notice period.” The news was confirmed by a BharatPe spokesman in their press release. According to them, starting on January 7, Sameer would serve as the company’s “strategic advisor.” While the company’s board looks to replace Sameer, BharatPe CFO Nalin Negi has been named interim CEO.
Ashneer Grover, who was fired from the company in March along with his wife Madhuri Jain due to fraud and other irregularities, hired Sameer to take over as CEO of BharatPe in August 2021.
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Sources claim that another senior official from BharatPe is currently looking into options. A second person who also asked to remain anonymous because the conversations are confidential noted that if this executive leaves as well, “there would hardly be any long-timer at the senior positions of the organization.”
Also leaving BharatPe in November were the chief technology officer Vijay Aggarwal, Nehul Malhotra, Rajat Jain, chief product officer for lending, and vice president for technology Geetanshu Singla. Over the past few months, BharatPe has been bolstering its product team and has added two important senior executives in Abhishek Sharma and Pawan Pathak. But none of this diminishes the company’s roller-coaster of a year.
After Grover’s audio footage of him verbally attacking a Kotak Mahindra employee over the Nykaa IPO surfaced, things got messy and he voluntarily left BharatPe. According to Kotak, Grover will be the target of legal action. After that, Jain (Grover’s wife) was fired from the company as the head of controls at BharatPe due to financial embezzlement that was discovered as a result of an external audit.
Grover then left the business and the board on his own accord. Koladiya, a co-founder of BharatPe, also filed for bankruptcy a few months ago, citing a disagreement with the management of the business. Grover had also spoken out against Sameer after Grover left. After Sameer left, BharatPe is searching for a new CEO, and it’s anyone’s guess who that person might be.
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