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BharatPe CEO Suhail Sameer steps down; CFO Nalin Negi appointed interim CEO

BharatPe CEO Suhail Sameer steps down; CFO Nalin Negi appointed interim CEO
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Sameer joined BharatPe in August 2020.

 

Suhail Sameer, the chief executive officer of India’s fintech platform BharatPe, has resigned from the post. The company’s current CFO Nalin Negi will take charge as the interim CEO.

 

“We have recognized the need to dedicate time and resources to finding the leader who will continue to catapult BharatPe to new heights, and we are grateful for the commitment from Suhail and Nalin,” said Rajnish Kumar, Chairman of BharatPe Board and as read on TechCrunch and Mint.

 

“We look forward to supporting Nalin Negi in his role as the interim-CEO, as we move ahead in our mission of empowering millions of MSMEs with a range of world-class financial products,” Kumar added.

 

Sameer will be transitioned to Strategic Advisor from January 7, 2023, the media reports added. According to a report by MoneyControl, Sameer will be setting up a venture capital fund to invest in startups post his departure from the fintech platform. He joined the fintech platform in August 2020 as president and took over as CEO in the second half of 2021. He has previously served as the CEO of the FMCG business at RP-Sanjiv Goenka Group.

 

Negi, on the other hand, is currently working as the chief financial officer at BharatPe and joined the homegrown company in August last year. He previously worked as CFO at SBI Card.

 

The move in the beleaguered fintech company follows the forced resignation of its founder Ashneer Grover last year on account of inappropriate behavior. Grover and his wife Madhuri Jain Grover were later sued by BharatPe for misappropriation of the company’s funds.

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