Payments and lending fintech BharatPe’s founding member Satyam Nathani has resigned from the company. Satyam Nathani, an IIT Delhi graduate, was a part of founding members of the company and the backbone of the tech team ,including the company’s services like pay later product PostPe and peer-to-peer lending product 12% Club. Nathani was set to play an important role in Unity Small Finance Bank, a joint venture between BharatPe and Centrum Financial Services, in which BharatPe has a minority stake.
This is the third big exit from the company as chief revenue officer Nishit Sharma and head of institutional debt partnerships Chandrima Dhar, both resigned citing personal reasons according to various news reports.
“This is to inform that Satyam Nathani has decided to move on from BharatPe to pursue his entrepreneurial ambitions. We will back him build the next big tech disruptions,” said the company in its statement.
The exit comes at a time when the Tiger Global and Sequoia Capital-backed company is amidst an overhaul of its corporate governance systems.
The company entered the unicorn club in August 2021 after raising $370 million led by Tiger Global. Former SBI chairman Rajnish Kumar was appointed chairman in October 2021.
BharatPe has been in controversy since the beginning of the year after allegations surfaced against founder Ashneer Grover and his wife Madhuri Jain Grover. Ashneer, and his wife were ousted from the company for allegations of misappropriation of funds.
BharatPe’s CEO Suhail Sameer who has been leading the company since Grover’s exit.
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