BharatPe appoints new CFO amid IPO plans

NEW DELHI: Fintech platform BharatPe on Wednesday said it has appointed former SBI Card CFO Nalin Negi as its new chief financial officer, as it prepares for its initial public offering (IPO). In his new role, Negi will take charge of the finance function for BharatPe and will be working towards making the company EBITDA positive by March 2023. He will report to Suhail Sameer, CEO, BharatPe and work closely with the Board of BharatPe. “His experience of listing SBI Card will be instrumental for us as we aim to go public in FY25,” said Sameer. BharatPe closed the Q1 of FY23 with over Rs 3,600 cr in total loans facilitated and $18 billion in annualised TPV in payments. The new appointment comes after BharatPe co-founder Bhavik Koladiya moved on from the company to pursue other assignments.