BharatPe on Tuesday announced three key appointments in corporate governance, compliance, and data security to build the fintech company.
The company has appointed Rahul Bhatia as the Head of Internal Audit, who has close to 17 years of experience in governance, risk, and compliance domains. Rahul will work closely with the audit committee and will be responsible for setting up the governance and internal audit framework for the company.
As its Chief Information Security Officer (CISO), the fintech major appointed Ambuj Bhalla, who has close to two decades of experience in information security, data privacy, and protection. He will be responsible for implementing IT security and cybersecurity frameworks for the BharatPe Group.
Also joining BharatPe is Ravinder Oberoi as the Head of Compliance. An industry veteran, Ravindra has close to 23 years of experience in financial services, banking, and insurance companies. He will help set up the company’s compliance function and strengthen relationships with the regulatory bodies.
“As we focus on getting IPO ready, we must focus to ensure that data privacy, cyber security, corporate governance, and compliance are given the highest priority,” BharatPe Founder Shashvat Nakrani said.
“I am pleased to welcome these experienced professionals… and I am confident that their diverse experience and in-depth knowledge in their specific domains will enable us to not only build best-in-class fintech products with enhanced security architecture but also ensure strong corporate governance and compliance across the organisation,” he added.
Earlier, in January, Suhail Sameer transitioned from Chief Executive Officer to Strategic Advisor. The current CFO, Nalin Negi, was appointed the interim CEO as the company scouts for a new leader.
Further, the company received in-principal approval from the Reserve Bank of India (RBI) to operate as an online payment aggregator (PA). The approval was awarded to Resilient Payments Private Limited, a wholly-owned subsidiary of BharatPe.
At present, BharatPe serves one crore merchants across 400+ cities. It claims to be a leader in UPI offline transactions, processing 18 crore+ UPI transactions per month (annualised transaction processed value of over $24 billion in payments).
To date, BharatPe has raised over $650 million in equity. The company’s list of investors includes Tiger Global, Dragoneer Investment Group, Steadfast Capital, Coatue Management, Ribbit Capital, Insight Partners, Steadview Capital, Beenext, Amplo, and Sequoia Capital.
