BharatPe, a UPI payments and digital lending platform, announced that it has appointed Ankur Jain as Chief Product Officer. In his new role, Ankur will contribute to BharatPe’s plans to scale up its footprint to 10 million merchants this year.
Ankur becomes the fifth CXO at BharatPe. He will be joining Vijay Agarwal (CTO), Nishit Sharma (Chief Revenue Officer), Puneet Agarwal (Chief Risk Officer), and Nishant Jain (Chief Business Officer) in the core team.
“We are at an interesting point in our growth phase that requires constant innovation and fast delivery of products for the rapidly evolving digital and financial needs of Indian shopkeepers. We are methodically getting the right people in the right positions to meet these requirements. Talent will be our biggest differentiator”, said Ashneer Grover, Co-Founder and CEO, BharatPe.
“Ankur joining in a critical role will strengthen our core team, he has deep experience in accelerating revenue through new products and solutions, driving large-scale organisational change, and anticipating market dynamics to create new products and segments which will help us drive product innovation at a higher velocity,” Ashneer added.
BharatPe was co-founded by Ashneer Grover and Shashvat Nakrani in 2018. The company launched India’s first UPI interoperable QR code, first ZERO MDR payment acceptance service, first UPI payment-backed merchant cash advance product, and the only P2P NBFC investment product offering merchants up to 12% interest.
Ankur is an alumnus of Stanford University, having experience of working in deep technology startups like Kosmix and Instalocate. Later in 2011, as a part of the acquisition of Kosmix by Walmart, Ankur joined Walmart Labs.
Earlier in February, BharatPe had raised $75 million in Series C funding round led by hedge fund Coatue Management and Palo Alto-based fintech investor Ribbit Capital. The funding rose BharatPe’s valuation to $425 million.
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