Business News/ Companies / News/  BharatPe continues to strengthen its leadership team

New Delhi-based digital payments platform BharatPe continues to add newer members to its leadership team, as it looks to expand its product offering across newer segments.

Earlier today, the merchant-focussed payments firm said that it has appointed Jasneet Kaur as Chief Human Resource Officer (CHRO) of the company. This is the second senior leadership hire made by the firm this month, which also appointed ex-McKinsey partner, Suhail Sameer as its Group President.

With 21 years of experience in the human resources, Kaur has previously worked with companies such as DHL, PepsiCo, Maersk, Microsoft, Mercer, Reliance Life Sciences, and will work closely with BharatPe’s leadership team to ensure the rapid growth of the company.

BharatPe, which raised $75 million, as a part of its Series C financing round, led by New York-headquartered hedge fund Coatue Management and existing investor Ribbit Capital, in February, has been on a hiring spree to bolster its leadership team.

Earlier in June, the company announced the appointment of Ankur Jain, as its chief product officer. While in May, the company hired Nishit Sharma, as its Chief Revenue Officer, and Nishant Jain as its Chief Business Officer. Prior to that, BharatPe also appointed Vijay Agarwal, as its Chief Technology Officer, in March.

Sameer, which was appointed earlier this month has the overall responsibility for building the organization, merchant network, business, and revenue, with all the company CXOs reporting into him.

“We are excited to welcome Jasneet to our core leadership team. She brings in a wealth of experience and best practices from global companies. Jasneet’s skills and experience give us huge confidence in building a high performance and culture centred organization," said Ashneer Grover, co-founder & CEO, BharatPe on Kaur’s appointment.

In a recent interview with Mint, Grover said that the covid-19 crisis did impact payment volume on its platform. However, with the current pandemic providing tailwinds to the sector, total transactions on its platform have sprung back, and are averaging around 1.2 million every day, worth 65 crore.

In addition to this, on the lending side, the lockdown and moratorium affected BharatPe’s collections by 80% and now the company has started collecting 70% of old loans (pre-covid) disbursed to merchant partners, Grover added.

Along with this, Mint had also earlier reported that BharatPe, has added three new products -- loyalty payment cards, merchant-based point-of-sale (PoS) solution and a credit line -- in a bid to diversify its offering.

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Updated: 25 Aug 2020, 07:46 PM IST
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