Financial Insights

BharatPe appoints interim CFO as company looks forward to it’s IPO

BharatPe has appointed an executive of Alvarez & Marshal as its interim CFO as an extensive search goes on to find a permanent one.

BharatPe, a fintech company, has been involved in several controversial matters since it’s founder Ashneer Grover appeared on Shark Tank India. Mr. Grover and his wife were accused of siphoning company funds to enrich themselves and of abusing the company expense accounts.

At one point in time, Ashneer Grover was standing against the company that he co-founded. Due to the severity of the allegations and internal strife between Mr. Grover and the management of the company, his wife was removed from the company and he resigned at a later date.

Even after such a public battle, the company has assured its users and investors that a comprehensive action plan was being devised and will be implemented soon.

Irrespective of the quantum of the controversies, the company is still a unicorn, today valued at over $2.8 billion. The management and board of the company are looking forward to taking the company public in a time span of 18-24 months.

Highlight by Aman Agarwal.

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