Tuesday, August 9, 2022

BharatPe founder Bhavik Koladiya quits months after Ashneer Grover’s departure

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  • The founder of BharatPe Bhavik Koladiya has resigned from his position at the fintech company.
  • He wants to spend time on assignments outside of BharatPe, the company said.
  • The development comes a few months after Asheer Grover lost his co-founder title.

BharatPe founder Bhavik Koladiya resigned from his position at the fintech firm a few months later. Ashneer Grover‘s exit. The four-year-old company has confirmed the development, saying that Koladiya has been associated with BharatPe as an “independent consultant.”

“Bhavik Koladiya is an independent consultant associated with BharatPe, guiding our product and technology teams. His contract term expired on July 31, 2022 and he expressed a desire to devote time to other assignments outside of BharatPe,” BharatPe told https://cafe-madrid.com/.

BharatPe seeks settlement with Ashneer Grover?

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According to a coin
report, Koladiya’s departure is due to a disagreement between him and the company. The newspaper also said Koladiya disagreed with BharatPe’s CEO Suhail Sameer. The company is seeking a settlement with Ashneer Grover, the report said. https://cafe-madrid.com/ was unable to independently verify these claims.

“Bhavik has been one of our biggest proponents and has been an integral part of our journey to become one of India’s largest fintech companies. While we wish him all the best, we are also confident that he will continue to guide us in the future as and when we need it,” BharatPe said in his statement.

Koladiya added: “I’ve been doing it relentlessly for five years now. I want to concentrate on reconciling my work and family. I am a zero-to-one man who likes to keep innovating with new ideas. From the day I and Shashvat founded BharatPe, we have always believed and worked to make BharatPe a movement that will survive and outgrow our own ambitions.”

Ashneer Grover stepped down in March this year

Earlier this year, Ashneer Grover and his wife Madhuri Jain had also left the company. While Madhuri Jain was fired over charges of misappropriation of funds, Grover resigned from his position as general manager a few weeks later, on March 1.

Grover was also later stripped of the co-founder title. The company was founded by Bhavik Koladiya and Shashvat Nakranic in 2018. Grover was the first investor in the company to later join as co-founder and CEO.

Grover had accused the company of using his personal network to scale up their payment business and later treating him in a “most disgraceful manner”.

The problem behind BharatPe and Grover started with a leaked audio, where Grover allegedly hurled abuse at an associate of Kotak Mahindra for failing to fund Nykaa’s IPO assignment for him and his wife Madhuri Jain. This controversy sparked a series of events that led to Grover’s resignation from BharatPe.


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