BharatPe co-founder Bhavik Koladiya quits months after Ashneer Grover

BharatPe said his contract tenure ended on July 31, 2022, and he expressed his desire to spend time on other assignments outside the company.

Published: 02nd August 2022 09:52 PM  |   Last Updated: 02nd August 2022 09:52 PM   |  A+A-

Koladiya's exit comes months after another co-founder Ashneer Grover's ugly spat and exit from BharatPe.

By Express News Service

BENGALURU: Five months after the exit of BharatPe co-founder Ashneer Grover, another co-founder Bhavik Koladiya has quit the fintech unicorn.

Though it is said that Koladiya's contract has not been renewed, BharatPe said in a statement that his contract tenure ended on July 31, 2022, and he expressed his desire to spend time on other assignments outside the company.

"Bhavik Koladiya has been associated with BharatPe as an independent consultant, guiding our product and technology teams. ..Bhavik has been one of our biggest advocates and has been an integral part of our journey in becoming one of India's largest fintech companies," the company said.

His exit comes months after Grover's ugly spat and exit from BharatPe. In 2018, Koladiya's role changed from the founder of the company to co-founder and CEO, and then again, he lost his co-founder status and instead was named the CTO of the company.

Though various reports said Grover was holding shares of BharaPe on behalf of Koladiya, Grover denied such claims.

BharatPe recently announced that it has closed one of the highest growth quarters, and that it has facilitated over Rs 3,600 crore in loans in the first quarter of FY23. It also recently hit an all-time high of $ 18.5 billion in annualized TPV (Total Payment Volume).



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