Pankaj Goel Resigns from BharatPe as Chief Technology Officer

Pankaj Goel, who took on the role of Chief Technology Officer (CTO) at BharatPe in July 2023, has resigned, as confirmed by sources close to the situation. His departure follows a tenure spanning less than two years at the fintech unicorn based in Delhi.

A source, wishing to remain anonymous, noted that Pankaj Goel submitted his resignation earlier this week citing personal reasons, and BharatPe has accepted it. He is currently in his notice period.

Pankaj Goel’s Contributions to BharatPe

During his time at BharatPe, Goel was instrumental in leading the technology team and driving innovation across various subsidiaries. His appointment filled a seven-month gap that followed the resignation of the former CTO, Vijay Aggarwal, in November 2022. The announcement was exclusively reported by Startup Superb at that time.

Previous Experience

Before joining BharatPe, Goel held the position of Head of Payments Engineering at Razorpay, where he significantly contributed to increasing the company’s total payment volume (TPV) from $1 billion to $100 billion. His career also includes leadership roles at Intuit, Trilogy, and Sun Microsystems.

Recent Developments at BharatPe

Earlier this year, BharatPe’s Chief Marketing Officer, Parth Joshi, also stepped down to pursue his own business venture. Sources indicate that Goel might consider similar entrepreneurial paths in the next few months.

Queries directed to BharatPe have not received an immediate response. Updates will be provided should there be any communication from the company.

This news comes shortly after BharatPe reached a break-even point at the EBITDA level (factoring in employee stock options) during the initial nine months of FY25. The company’s net losses were reduced to Rs 148.8 crore in 9M FY25, down from Rs 492 crore in FY24.

Additionally, BharatPe’s subsidiary, Resilient, has recently gained final approval from the Reserve Bank of India (RBI) to operate as an online Payment Aggregator (PA). This advancement positions BharatPe among a select few Indian fintech companies to possess an NBFC license (Trillion Loans), a stake in a Small Finance Bank (Unity SFB), and now, a PA license.