BharatPe co-founder Shashvat Nakrani steps back from operations from May 1
Transitions to board role, to focus on IPO, strategy, fundraising
Losses narrow 82% to ₹88 crore, lending-led growth drives turnaround
BharatPe co-founder Shashvat Nakrani has announced that he will step away from day-to-day operations at the company, transitioning into a strategic advisor and board director role effective May 1.
Nakrani said he will no longer be involved in daily execution but will continue to contribute to key areas such as fundraising, IPO planning, mergers and acquisitions, and long-term strategy.
1 April 2026
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In a LinkedIn post, he said the decision followed a period of reflection, adding that his approach to building has always been driven by curiosity and a desire to explore new ideas. He also noted that he remains closely connected to the company as its largest individual shareholder and expressed confidence in the current leadership under CEO Nalin Negi.
From Startup Founder to Strategic Role
Nakrani co-founded BharatPe in 2018 at the age of 19 while studying at the Indian Institute of Technology Delhi, with the aim of addressing gaps in India’s digital payments ecosystem. Since then, the company has grown into a key player in merchant payments and lending.
He was among the co-founders who continued with the company following the exits of Ashneer Grover and Bhavik Koladiya. Koladiya exited in mid-2022, while the company later resolved its long-standing legal dispute with Grover through a comprehensive settlement in September 2024.
Nakrani said he now plans to return to his roots as a builder and explore new ventures, reflecting on his early decision to leave college and start BharatPe.
Financial Turnaround and Lending Push
The leadership transition comes at a time when BharatPe has been working to stabilise operations and improve its financial performance. The company narrowed its net losses by 82% to ₹88.2 crore in FY25 from ₹492 crore in the previous fiscal, while operating revenue rose nearly 17% to ₹1,667 crore from ₹1,426.1 crore.
A major driver of this turnaround has been the company's shift from payments to lending-led growth. BharatPe now derives a significant portion of its revenue from merchant-focused offerings such as loans, PoS devices and subscription services.
The company has also strengthened its lending ecosystem through its stake in Unity Small Finance Bank and its NBFC arm Trillion Loans, enabling it to underwrite part of its loan book while maintaining partnerships with other lenders.
Alongside this, BharatPe has expanded its consumer-facing portfolio, including bill payments, credit products on UPI and a wealthtech platform introduced in 2024, as it looks to diversify its revenue streams and build a broader financial services ecosystem.
