BharatPe’s chief product officer (CPO), Ankur Jain has resigned from the company to launch his own venture.
Jain, who was part of the founding team of WalmartLabs, had assumed the role of CPO at the fintech unicorn firm in June 2020.
Confirming his exit, BharatPe said, “Ankur Jain has decided to move on from BharatPe to pursue his entrepreneurial ambitions. He has been an integral part of the company’s journey over the last 3.5 years and has built and led a super talented team that brought to life disruptive fintech products for merchants and consumers.”
The development was first reported by Entrackr.
BharatPe said it is in the process of looking for a seasoned product leader to take over the role of CPO. It will make a formal announcement on the same soon.
Since last year, BharatPe has been in the news for its top-level exits, including co-founders Satyam Nathani and Bhavik Koladiya, Suhail Sameer (CEO), Nishit Sharma (CRO), Geetanshu Singla (VP, Technology), Nehul Malhotra (PostPe head), Rajat Jain (CPO, lending and consumer products), and Vijay Aggarwal (CTO).
Earlier this year, company’s chief business officer for the merchant lending division, Dhruv Dhanraj Bahl, quit the fintech startup, adding to the string of exits of senior leaders since last year.
Meanwhile, some new appointments were also made, including former Razorpay SVP Pankaj Goel as the new chief technology officer and former ICICI Bank veteran Sandeep Indurkar as the chief business officer of banking and alliances. BharatPe also appointed Aparna Kuppuswamy as its chief risk officer and Kohinoor Biswas as the head of the consumer lending business.
BharatPe’s revenues jumped 169% to Rs 321 crore in FY22. However, it also saw its losses widen to Rs 5,594 crore. The company attributed the loss to a change in the fair value of compulsory convertible preference shares.
BharatPe is yet to file its FY23 results.
