BharatPe cofounder Shashvat Nakrani steps down as COO, to remain a director

BharatPe cofounder Shashvat Nakrani has stepped down from his role as the chief operating officer in the fintech firm. He will continue to be a director on the firm's board.

In an update on social media platform LinkedIn, Nakrani said he is transitioning from day-to-day execution to a strategic advisor role effective May 1. He said he will continue to play a guiding role in areas like fundraising, IPO, mergers and acquisitions, and long-term strategy for the company.

While Nakrani did not talk about his future plans, people in the know said he is set to launch a startup again.


With his exit, BharatPe will now be completely run by a professional management. The other two cofounders, Bhavik Koladiya and Ashneer Grover had left the fintech a few years back.

Peak XV Partners, Beenext, Coatue are among the major investors in BharatPe.

According to data from Tracxn Nakrani holds a 10.8% stake in the company.

“For me, building has always meant following curiosity, returning to first principles, and exploring ideas that may not always succeed, but are worth pursuing,” Nakrani wrote on LinkedIn. “That same curiosity led me to put up college at the age of 19. In 2018, when we founded BharatPe on the IIT Delhi campus, it was about bridging a gap we clearly saw around us.”

Confirming the development, a BharatPe spokesperson said Nakrani will transition to founder and director at BharatPe, a move that allows him to remain closely involved in the company’s strategic direction while also exploring new entrepreneurial ideas.

BharatPe is led by chief executive officer Nalin Negi who assumed the role in April 2024. From being focused on QR-code based payments only, BharatPe has transitioned into a full-stack consumer and merchant payments and lending firm.

Speaking with ET in August last year, Negi had said the company had processed Rs 1,000 crore in revenue from its core financial services business only. He had also confirmed that the company is looking to raise a major funding round and given the firm achieved Ebitda profitability last year was hoping to get investor attention.

BharatPe closed FY25 with total revenue of Rs 1,734 crore and profit before tax (excluding Esop cost) of Rs 6 crore. At the net level, the New Delhi-based firm reported a loss of Rs 88 crore.