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BharatPe's CMO Parth Joshi resigns, says 'I want to pursue my entrepreneurial ambitions'

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Sumit Vishwakarma
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BharatPe

Parth Joshi

BharatPe Chief Marketing Officer (CMO) Parth Joshi has resigned from the fintech firm and is preparing to launch his own venture in the consumer brands space. 

He is currently serving his notice period at the company, which plans to go public within the next two years. BharatPe confirmed his departure and said it respects his decision to become an entrepreneur.

“At BharatPe, we take pride in fostering a culture that nurtures innovation, leadership, and entrepreneurship. We are always supportive of individuals who aspire to create meaningful impact, and we wish Parth the very best in his new endeavour," the company said.

Resignation and new venture

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Joshi joined BharatPe in June 2021 after serving as head of marketing at Reckitt for more than five years. He had also worked at GlaxoSmithKline and L’Oréal, managing well-known portfolios such as Dettol and Horlicks.

During his tenure at BharatPe, he led the marketing function and played a key role in introducing consumer-facing businesses like PostPe and 12% Club. These offerings helped the company expand beyond its core merchant payments service.

"After an incredible journey at BharatPe, I have decided to take the next step and pursue my entrepreneurial ambitions. I am grateful for the opportunities, learnings, and support I have received during my time here. BharatPe has always encouraged innovation and leadership, and I leave with nothing but appreciation for the team and the culture that fosters growth. I look forward to this new chapter," Joshi said.

High-profile departures

Joshi’s exit comes amid other notable leadership changes at BharatPe. Co-founder Bhavik Koladiya recently joined SaaS startup OTPless as CEO, while former CEO Suhail Sameer moved to venture capital firm OTP Venture as a managing partner.

The company’s chief human resources officer, Smriti Handa, left to pursue opportunities abroad, and chief data scientist Ritesh Mohan Srivastava stepped down to launch his own business.

IPO plans and financial outlook

BharatPe aims to file for an initial public offering in the next 18 to 24 months. In preparation for that, the company has raised Rs 150 crore in debt from Neo Wealth and Asset Management and Trifecta Capital.

BharatPe reported consolidated revenue of Rs 1,426 crore in 2023-24, with losses falling by 50% to Rs 474 crore. The company expects to become EBITDA-positive by March 2025. 

Chief Executive Officer Nalin Negi said BharatPe plans to grow its lending vertical, introduce new features across its point-of-sale systems and soundbox devices, and scale its consumer business. The firm is also considering applying for a payment aggregator license.

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