BharatPe co-founder Shashvat Nakrani on his way out
13 Apr 2026, 06:39 PMShashvat Nakrani, the last remaining co-founder, is exiting the company - following earlier departures of Ashneer Grover and Bhavik Koladiya.
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BharatPe's co-founder Shashvat Nakrani is quitting the company, marking exit of last remaining founder after the departures of Bhavik Koladiya and Ashneer Grover.
Nakrani, who served as chief operating officer at BharatPe, has stated that he is stepping away from his executive role to "explore new ideas."
"After a lot of reflection, I have decided to transition into the role of Founder & Director, where I believe my strengths will be better used. I’ll remain closely involved at the strategic level while also giving myself the space to work on these ideas that feel like a new chapter for me," Shashvat Nakrani said in his statement.
"For a while, I’ve been thinking deeply about what truly excites me, bringing back the same energy I felt when we started building BharatPe. I am in the phase of my life where I am drawn to exploring new ideas that feel challenging, exciting, even risky at times. Do I have all the answers yet? No. In fact, I’m still in the learning, understanding and experimenting phase. But I am sure that this is something I want to pursue," he added
"As the largest individual shareholder, my alignment with BharatPe’s long-term success remains absolute," Nakrani added.
BharatPe was incorporated in March 2018 by Koladiya and Nakrani (who was then studying at IIT-Delhi) as co-founders, each owning 50% of the company. Three months later, in June 2018, Grover joined as the third co-founder.
After the exit of Ashneer Grover in March 2022, Koladiya had quit the fintech unicorn in June 2022.
BharatPe -- which is led by its chief executive officer Nalin Negi -- had earlier stated that it achieved its first ever adjusted profit before tax (PBT) as the fintech unicorn prepares to go public. The Delhi-based company registered Rs 6 crore in adjusted PBT (excluding ESOP expense) in FY25 as compared to a net loss of Rs 342 crore in the previous financial year, it said in a statement.
Its operating revenue increased around 17% to Rs 1,667 crore in FY25 from Rs 1,426 crore in FY24. Total revenue rose to Rs 1,734 crore in FY25, reflecting strong topline growth across business verticals.
The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) climbed to Rs 141 crore in FY25 as compared to an EBITDA loss of Rs 209 crore in FY24. EBITDA excludes ESOP expenses.
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