BharatPe co-founder & tech head Bhavik Koladiya quits firm

“Bhavik Koladiya has been associated with BharatPe as an independent consultant, guiding our product and technology teams. He contract tenure ended on July 31, 2022, and he expressed his desire to spend time on other assignments outside BharatPe,” the company said in a statement on Tuesday.

BharatPe co-founder & tech head Bhavik Koladiya quits firm
On his part, Koladiya said that BharatPe was one of his largest investments and he would continue to stay invested in the company.

By Tushar Goenka

BharatPe co-founder Bhavik Koladiya, who was working with the company as a consultant overseeing its technology and product functions, has resigned.

“Bhavik Koladiya has been associated with BharatPe as an independent consultant, guiding our product and technology teams. He contract tenure ended on July 31, 2022, and he expressed his desire to spend time on other assignments outside BharatPe,” the company said in a statement on Tuesday.

The development comes months after the exit of CEO and co-founder Ashneer Grover following a spat with the fintech major’s management. Grover’s exit had come after damaging findings in a forensic audit relating to misappropriation of funds.

“Bhavik has been one of our biggest advocates and been an integral part of our journey in becoming one of India’s largest fintech companies. While we wish him the very best, we are also sure that he will continue to guide us in the future as well, as and when we need,” the company statement added.

On his part, Koladiya said that BharatPe was one of his largest investments and he would continue to stay invested in the company.

Around the time Grover and the BharatPe management were engaged in a spat, an audio recording had surfaced in which Koladiya and Grover were having a heated exchange.

Koladiya joins a growing list of top-level exits at BharatPe in recent months. Apart from Grover, his wife Madhuri Jain had also parted ways with the company following allegations of misappropriation of funds. In May, Chandrima Dhar, head of institutional debt partnerships, also quit. In June, Satyam Nathani – founding member at the company – quit “to pursue entrepreneurial goals”. Chief revenue officer Nishit Sharma also left the same month.

Currently, Koladiya’s LinkedIn profile shows he has joined Finix Partners as managing partner and is also adviser to founder Shashvat Nakrani.

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