Nalin Negi is elevated to CEO by BharatPe

Nalin Negi, the interim chief executive officer and chief financial officer of fintech company BharatPe, was promoted to full-time CEO on Tuesday. Following the resignation of then-CEO Suhail Sameer in January 2023, Negi was appointed CEO in an acting capacity.

“We are appreciative of Nalin Negi’s outstanding work as the interim CEO and look forward to assisting him in his new position. Rajnish Kumar, the chairman of the board of BharatPe, said, “His broad experience in the fintech industry and the growth witnessed for BharatPe under his leadership makes him a natural choice to lead the company.” Negi, who has over 28 years of expertise developing and growing firms in the banking and fintech industries, joined BharatPe in 2022.

“I am honored and thrilled to assume this new position at BharatPe. Our long-term strategic priorities will include maintaining profitability, growing our loan operations, and introducing new products that cater to merchants. Negi said, “We are dedicated to expanding on the solid foundation, promoting financial inclusion, and providing value to our partners, merchants, and stakeholders.”

Under Negi’s direction, BharatPe’s operational revenue increased by 182% in FY’23, and October 2023 was the first month in which profits before interest, taxes, depreciation, and amortization (EBITDA) were positive. According to the announcement, BharatPe will start looking for a new CFO.