BharatPe Cofounder Shashvat Nakrani Steps Down To Launch New Venture

In another leadership change for BharatPe, cofounder 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.

Nakrani also pointed to the larger opportunity in the market, saying millions of small merchants in India still lack access to simple financial tools, a problem BharatPe set out to solve.

(The story will be updated soon)

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