BharatPe’s Chief Marketing Officer, Parth Joshi, has stepped down from his role to pursue an entrepreneurial venture, sources confirmed. His departure marks yet another high-profile exit from the fintech unicorn, which has seen several senior executives leave to start their own businesses in recent years.
A Departure in the Making
Joshi, who joined BharatPe in June 2021, has been instrumental in shaping the company’s marketing strategy over the past three and a half years. Prior to his tenure at BharatPe, he held leadership roles at Reckitt, GSK, and L’Oréal, bringing extensive experience in brand building and consumer engagement.
According to sources, Joshi is currently serving his notice period. While he has yet to disclose details about his upcoming venture, industry insiders believe his expertise in marketing and consumer brands could influence the direction of his new company.
BharatPe Acknowledges the Exit
Confirming Joshi’s resignation, a BharatPe spokesperson stated, “Parth Joshi has decided to embark on his entrepreneurial journey, and we respect his decision. 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 endeavor.”
This statement echoes the company’s stance on the growing trend of former executives transitioning into the startup ecosystem.
Exodus of Key Executives
Joshi’s departure is the latest in a series of exits from BharatPe. Over the past few years, multiple senior executives have left to start new ventures. Among the notable names:
- Smriti Handa, former CHRO, left to explore international career opportunities.
- Ritesh Mohan Srivastava, former Chief Data Scientist, has shifted focus toward entrepreneurship.
- Ankur Jain, former Chief Product Officer, founded Jivi.ai, an AI-driven healthcare startup.
- Genwise, a startup launched by ex-BharatPe executives Rajat Jain, Geetanshu Singla, and Nehul Malhotra, secured funding in April 2023.
The growing list of startup founders from BharatPe’s leadership team underlines a pattern where ex-employees channel their corporate experiences into new business ventures.
Startups Led by Former BharatPe Executives
BharatPe’s alumni network has proven to be a fertile ground for new startups. Data compiled by TheKredible indicates that nearly a dozen ventures have emerged from former executives and employees of the company. Some of the most notable include:
| Name | Founder(s) | Sector |
|---|---|---|
| Third Unicorn | Ashneer Grover & Madhuri Jain | Fintech & Fantasy Sports |
| OTPless | Bhavik Koladiya | SaaS |
| OTP Venture | Suhail Sameer | Venture Capital |
| Eternal Capital | Dhruv Dhanraj Bahl | VC Fund ($14.5M) |
| BulkPe | Saurabh Bhatnagar | Fintech |
| VegaPay | Puneet Sharma | Payments |
| CubeAPM | Vijay Aggarwal | SaaS |
The trend reflects how experienced executives from BharatPe have leveraged their fintech expertise to build diverse businesses spanning AI, SaaS, venture capital, and payments.
BharatPe’s IPO Plans and Financial Performance
Despite the executive churn, BharatPe continues to strengthen its financial standing. CEO Nalin Negi recently stated that the company aims to go public within the next 18-24 months.
For the fiscal year ending March 2024, BharatPe reported a revenue of Rs 1,426 crore, while cutting its consolidated losses by 50% to Rs 474 crore. The company remains a key player in India’s fintech sector, particularly in merchant payments and lending solutions.
While the departure of a key executive like Joshi raises questions about leadership stability, BharatPe’s track record of fostering entrepreneurship suggests that its former leaders will continue making waves in India’s startup ecosystem.
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