Good Morning,
Since Ashneer Grover, Co-founder and Managing Director, BharatPe, went on a leave of absence on January 19, the fintech unicorn has been in the news due to a very open and public discord between Ashneer and the company’s board.
Co-founder Shashvat Nakrani also came on record to say that he has neither given his consent for, nor sought the removal of Suhail Sameer, CEO, BharatPe, from the board of the fintech firm.
"I can confirm that I was one of the two joint nominees in the appointment resolution of Suhail Sameer as the CEO and Board member of BharatPe, and he continues to enjoy my support," Shashvat said in a media statement.
If the fintech company has to raise another round in future, its management will need to be different. The Board needs to be in charge, even as investors keep up appearances that they haven't recast the management.
We take a look back at the rise of this fintech unicorn — last valued at $2.8 billion — and how it has evolved over the years. Read more.
The Interview
Myntra's Sudheer Tumuluru, DailyHunt's Jai Thomas, Microsoft India's Rajnish Malik, Builder.ai’s Sachin Dev Duggal, and Darwinbox's Prithvi Raju Alluri discuss their cloud-native strategies for scaling from India to the world.
Editor’s Pick: Techie Tuesday
When Erad Fridman started working at Google in 2007, the company was in a period of rapid growth. Working on many of the tech giant’s foundational systems, Erad’s team developed and managed global Business Intelligence and automation systems that supported millions of advertisers and partners.
Today, as the CEO of San Francisco-based product development company Fluxon, Erad strongly believes it is important to learn continuously. Read more.
Startup Spotlight
Former Freshworks execs Srikrishnan Ganesan, Vignesh Girishankar, and Deepak Bala realised while onboarding mid-market customers that it was a struggle to run implementations on spreadsheets, smart sheets, Slack, emails, or Google Docs.
This led the trio to start Rocketlane which offers a purpose-built unified workspace for collaborating with customers on onboarding projects. Read more.
Founders of Rocketlane
News & Updates
- Following fintech giant Paytm's third-quarter results, Goldman Sachs has upgraded its rating call on the stock to 'buy' from 'neutral', mainly on the back of its strong revenue growth. Paytm on Saturday reported an 89 percent increase in its quarterly revenue to Rs 1,456.1 crore.
- Manish Maheshwari, former Twitter India head, has started edtech platform Invact Metaversity, along with former Microsoft executive Tanay Pratap. The startup has raised funding from over 70 global entrepreneurs and is already valued at $33 million.
- Venture debt firm Trifecta Capital said it has raised Rs 1,500 crore in its maiden equity fund, Trifecta Leader Fund-I. Earlier, the company said it secured Rs 750 crore ($100 million) in the first round of Trifecta Venture Debt Fund- III.
Before you go, stay inspired with…
Namita Thapar, Executive Director, Emcure Pharmaceuticals
“If you're proud of who you are, you don’t have to put up a show or posture.”
— Namita Thapar, Executive Director, Emcure Pharmaceuticals
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