The rumbling never seems to stop at Sequoia-backed BharatPe. After the eventful year it has had, the company’s chief executive officer (CEO) Suhail Sameer resigned two weeks ago, according to two sources. This marks another major exit from the firm after Bhavik Kodaliya, chief revenue officer Nitish Sharma and Chandrima Dhar left in June.

Fintech unicorn, BharatPe CEO Suhail Sameer, who had fallen out with former co-founder Ashneer Grover, has quit. A BharatPe spokesperson confirmed the development via their press release. They said Sameer will transition to “strategic advisor” for the company from January 7. BharatPe’s CFO Nalin Negi has been appointed as the interim CEO, while the company’s board searches to replace Sameer.

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BharatPe (CEO)

Sameer, who was previously CEO of the FMCG business at RP-Sanjiv Goenka Group, joined BharatPe in August 2020 as president and has been serving as CEO of BharatPe since August 2021 and was hired by Ashneer Grover who was ousted from the company along with his wife Madhuri Jain in March on the grounds of fraud and other irregularities.

Suhail Sameer’s departure is the latest in a slew of recent top-level exits at the Tiger Global investee firm. In December, three senior executives—Vijay Aggarwal (chief technology officer); Nehul Malhotra (head of PostPe) Rajat Jain (chief product officer: lending and Geetanshu Singla (vice president, technology)—resigned from the company.

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Nishit Sharma, the company’s chief revenue officer, left the company in June. Satyam Nathani, one of BharatPe’s founding members, also left to pursue his entrepreneurial ambitions in the same month.

Meanwhile, BharatPe has been strengthening its product team over the past few months and hired two key senior executives in Abhishek Sharma and Pawan Pathak. But none of this takes away from the roller coaster of a year the company has had.

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About Ashneer Grover

The messiness began when Grover’s sound clip of abusing a Kotak Mahindra employee over the Nykaa IPO, came to light— which led to him going on voluntary leave from BharatPe. Kotak had said it would file a case against Grover. Following this, Jain (Grover’s wife) and the head of controls at BharatPe, was fired from the company on the grounds of misappropriation of funds, which surfaced due to an external audit.

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Then, Grover himself resigned from the company and the board. A few months ago, BharatPe’s co-founder Kodaliya also put his papers citing disagreement with the company’s management. After Grover exited, he had made statements against Sameer as well. With Sameer’s exit, BharatPe is now on a lookout for a new CEO, and it’s anybody’s guess who their next CEO can be.

Suhail Sameer, the chief executive officer of BharatPe, is reportedly stepping down.