BharatPe sees final founder exit from operations as Shashvat Nakrani steps aside

BharatPe co-founder Shashvat Nakrani has stepped down from his operational role as chief operating officer, marking the exit of all original founders from day-to-day management at the fintech company.

The development underscores a full transition in leadership at the Delhi-based unicorn, which has been gradually reshaping its management structure over the past few years amid governance resets and expansion plans.

Founder exit completes management transition

Nakrani’s departure from operations follows earlier exits within the founding team, including co-founder Bhavik Koladiya, who left the company in 2022. The company also resolved its long-running dispute with former co-founder Ashneer Grover through a settlement concluded in 2024.

With Nakrani stepping away from his COO responsibilities, BharatPe no longer has any founding member in an active operational role, signalling a decisive shift towards professional management leadership.

Strategic shift ahead of listing plans

The transition comes at a time when BharatPe is preparing for a potential public listing in the medium term. The company has previously indicated IPO ambitions in the FY27–FY28 window, positioning itself for a more formalised corporate structure.

Recent management appointments, including leadership changes in its point-of-sale (POS) business, reflect continued restructuring as the company sharpens its focus on core payments and merchant services.

In March 2026, BharatPe appointed Himanshu Verma as head of its POS business, strengthening its push into offline merchant payments infrastructure.

Business performance and operating scale

BharatPe continues to operate as a major player in India’s merchant payments ecosystem, serving more than 10 million offline merchants and kirana stores through its UPI QR, lending, POS and financial services offerings.

The company reported a profit of ₹6 crore on revenue of ₹1,800 crore for the fiscal year ended March 2025, highlighting a shift towards improved financial discipline alongside growth in scale, according to Fintrackr.

Nakrani’s exit from operations marks a symbolic end to BharatPe’s founding era in day-to-day leadership. The company now moves further into a professionalised management phase as it balances profitability, expansion in merchant services, and preparations for a potential public market debut.