BharatPe Co-Founder Shashvat Nakrani Stepping Down

BharatPe’s co-founder Shashvat Nakrani has announced his departure from the roles of founder and director, marking the end of the original founders’ active participation in the company’s operations. In a post on LinkedIn, Nakrani expressed thoughts of returning to entrepreneurship, although his plans remain in the early stages of development. He mentioned that he will continue to engage at a strategic level while allowing himself the freedom to explore new ideas symbolising a fresh chapter in his career.

Leadership Changes at BharatPe

Prior to Nakrani’s exit, co-founder Bhavik Koladiya left the company in mid-2022. In September 2024, BharatPe successfully resolved its prolonged legal and public conflicts with former co-founder Ashneer Grover through a comprehensive settlement, further shaping the company’s leadership landscape.

Future Prospects for BharatPe

Nakrani’s transition coincides with BharatPe’s preparations for a potential public listing, which is anticipated by the end of FY27 or mid-FY28. BharatPe serves as a fintech platform, operating with more than 10 million offline merchants and kirana stores, providing them with digital payment solutions and financial services. These include zero-MDR UPI QR codes, lending services, POS systems, and investment products.

In March, the company, backed by Coatue Management, appointed Himanshu Verma as the Head of its POS business. For the fiscal year ending March 2025, BharatPe reported a profit of Rs 6 crore against a revenue of Rs 1,800 crore.