Nalin Negi joins BharatPe as CFO

4 Aug 2022 , 08:01 AM

According to a statement released by BharatPe on Wednesday, Negi will be in charge of the company’s finances and work to make it Ebitda-positive by March 2023. BharatPe is headquartered in New Delhi.

Earnings before interest, taxes, depreciation, and amortization is referred to as Ebitda. Negi will oversee the organization’s financial readiness as it gets ready for an IPO (IPO).

According to the corporation, Negi will work closely with its board and report to its CEO, Suhail Sameer.

Negi led a number of significant strategic initiatives during his prior employment, including the SBI Card IPO in March 2020. Additionally, he has worked for ITC, Nestle India, EXL Service, American Express (India), and Nestle.

The hiring comes at a time when Bhavik Koladiya, a co-founder of BharatPe who served as a consultant in the company’s early years, has resigned.

After cofounder Ashneer Grover left the board and management of BharatPe following months of controversy, Negi is the company’s second significant top-level hiring this year.

Negi has more than 25 years of experience working for banks and other financial institutions, including GE Capital and SBI Card.

“BharatPe has experienced tremendous growth. The company plans to achieve profitability, go public, and establish India’s first entirely digital bank over the course of the next two years, which will be thrilling, according to Negi.