Who is Ashneer Grover, the BharatPe co-founder, MD?

Ashneer Grover, co-founder and managing director (MD) of digital funds platform BharatPe, went on a voluntary go away until the tip of March, based on an announcement issued by the corporate on Wednesday. Grover’s choice comes simply weeks following a row over a leaked audio clip on social media through which he was allegedly heard utilizing abusive language towards a Kotak Mahindra group worker for lacking out on financing for the Nykaa IPO final yr.
Who is Ashneer Grover?
Ashneer Grover is the co-founder and MD of BharatPe. He together with Shashvat Nakrani had co-founded the digital funds platform BharatPe in 2018. The firm serves over 75 lakh retailers throughout 150 cities.
He can also be presently one of many judges of Shark Tank India (an Indian adaptation of a US actuality present of the identical title).
Before co-founding BharatPe in October 2018, Grover headed the brand new enterprise at PC Jeweller for a yr. Earlier, he was the chief monetary officer (CFO) at on-line grocery platform Grofers for two-and-half years. He was additionally the director – company growth at American Express for practically two years.
His longest stint was over seven years with Kotak’s Investment Banking the place he served as vice chairman (VP) until May 2013.
Why is he in information nowadays?
According to reviews, Ashneer Grover and his spouse Madhuri had accused the Kotak Mahindra Bank of failing to safe finance and allocation of shares within the preliminary public providing (IPO) of Nykaa. They had sought Rs 500 crore in damages.
While the lender acknowledged that the couple had on October 30 despatched a authorized discover to it, with out elaborating on the explanations for a similar.
“This notice was received by us and was replied to appropriately at the time, including placing on record our objections to inappropriate language used by Grover. Appropriate legal action is being pursued,” an announcement from the financial institution stated.
It, nevertheless, didn’t elaborate on the precise level over which the authorized motion is being pursued.
What is the leaked audio clip?
Earlier this month, an audio clip surfaced on social media the place a pair is purportedly chatting with what seems to be a relationship supervisor from a financial institution. The male voice hurls abuses and the opposite male voice is heard pacifying him. It was speculated if it’s the Grover couple within the viral clip, and Ashneer Grover denied the identical calling the tape as “fake”.
The tweet was made by an account named @BabuBongo which stated “how rich founders treat poor bank employees” and included an audio clip. The clip, which is about 4:29 minutes, included an trade between three folks: two male and a feminine voice. However the audio file has been taken down from Twitter and Soundcloud later.
What did Grover say?
Grover claimed that it’s a pretend audio by “some scamster trying to extort funds (USD 2,40,000 bitcoins)” and added that he “refused to buckle”.
“Folks. Chill. It’s a fake audio by some scamster trying to extort funds (USD 240,000 bitcoins). I refused to buckle. I’ve got more character. And, internet has got enough scamsters,” he had tweeted and had additionally shared screenshots of his e-mail trade from final month with ‘Unicon Baba’ who sought USD 240,000 in Bitcoins for “managing perception”.
However, Grover later had deleted his tweet.
What is BharatPe?
BharatPe is a fintech platform. It serves over 75 lakh retailers throughout 150 cities. The firm has already facilitated the disbursement of loans totaling over Rs 3,000 crore to its retailers since its launch. BharatPe has raised over $650 million in fairness and debt, so far.
Its traders embrace Tiger Global, Dragoneer Investment Group, Steadfast Capital, Coatue Management, Ribbit Capital and others.
-with PTI inputs