Merchant service provider goes on an overdrive in hiring talent to beef up its executive level
Merchant financial services firm BharatPe has appointed Amit Jain as its Chief Risk Officer. The credit risk and portfolio management veteran will work closely with Ashneer Grover, Co-Founder and CEO, and Suhail Sameer, Group President.
Amit is the third addition to BharatPe’s executive team in 2021. Earlier this year, the company announced the appointment of Gautam Kaushik, former MD and CEO at Payback, to lead the
payments business, and Sumeet Singh, former partner of Amarchand Mangaldas, as the General Counsel and Head of Corporate Strategy.
Amit Jain carries a 17-year experience in portfolio and credit risk management across consumer and SME lending in renowned banking and financial institutions. He was the chief risk officer for consumer lending at Bajaj Finance. He earlier served the risk and credit policy team at SBI Cards. The finance graduate from the ICFAI Business School also worked with Standard Chartered Bank and GE Capital.
“Talent at BharatPe is an amalgamation of Grade A operators with industry experience and passion to do things differently. Amit Jain joining us from Bajaj is a great validation for our lending business model and sets us up for building a high-quality book at scale. I look forward to working closely with Amit to build a differentiated lending team and business with a wider set of products for our merchants,” Ashneer Grover said.
“BharatPe’s success story in the fintech industry is a case study in itself. In just 2.5 years, the company has built an entrenched network of over six million merchants across 100 cities. It has been able to issue credit to lacs of small merchants even in the times of the pandemic and has emerged as the flagbearer of B2B fintech lending in India. These are exciting times in the digital lending industry and I look forward to work with this incredible team at BharatPe and serve the credit needs of millions of unbanked and underserved merchants in the country,” Jain said.
“I believe, with my experience of leading risk and credit for several products in great institutions like Bajaj Finance, I would be able to make a meaningful impact at BharatPe, and therefore, in the lives of our merchants.”
Founded in 2018, BharatPe had launched India’s first UPI interoperable QR code, first zero MDR payment acceptance service, and first UPI payment backed merchant cash advance service. In 2020, it launched India’s only zero MDR card acceptance terminals – BharatSwipe. Currently serving over 60 lakh merchants across 100 cities, the company is a leader in UPI offline transactions, processing 10 crore-plus UPI transactions per month, valued at over $10 billion, according to a statement from the company.