BharatPe is an Indian fintech company that caters to small merchants and kirana store owners in India. The company offers a range of fintech products including interoperable QR code for UPI payments, Bharat Swipe (POS machine) for card acceptance, and small business financing.
The firm was co-founded by Ashneer Grover in 2018, with its headquarters in New Delhi, India.
Ashneer Grover who was last seen on Shark Tank India as a shark. Ashneer Grover has landed into controversy after the audio clip of him threatening and hurling abuses at a Kotak Mahindra Bank employee, was released. He has also been sent on “Leave of absence” till March 2022.
Ashneer called it a ’fake audio’ by some scamster trying to extort fonds.
In the latest interview of him with Money Control he said that board is arm twisting him to exit BharatPe by trying different intimidation techniques.
He further said “Why would I resign? ” I am the MD. I run the company. If the board thinks I don’t need to be the MD, someone else can run the company. Please put my Rs 4000 crore on the table and take the key from me. If you want to buy me out you want to buy me out at the fair market value, right? In my view, the fair market value is $6 billion. Either I’ll run the company or they buy me out, there is no third option.”
Ashneer Grover owns 9.5% stack in BharatPe.
Ashneer added, “From May 2021, when the round was priced, my merchant business today is 50% higher. I have got a bank license, which was not there then. I have built the largest P2P (peer-to-peer) platform, 12% Club, which wasn’t there. I have built PostPe, a BNPL (Buy Now Pay Later) play. We have also merged PMC (Bank) in addition to getting the license. If I was running the business, I am extremely confident of doing a $6 billion valuation round.”
