BharatPe, Ashneer Grover finalise settlement as ex-co-founder cuts all ties with fintech
As per the settlement, Grover will no longer be affiliated with BharatPe in any capacity, nor will he hold any shares in the company.
As per the settlement, Grover will no longer be affiliated with BharatPe in any capacity, nor will he hold any shares in the company.
Both parties have agreed to withdraw all oppositions in the trademark registry, facilitating the registration of their respective marks.
The fintech unicorn's losses before tax plunged from ₹5,594 crore in FY22 to ₹886 crore in FY23.
Gurugram-headquartered company says it significantly cut down its burn, which was averaging at ₹60 crore a month in FY23, to attain a positive EBITDA
Ashneer Grover says he did not receive any summon from the Economic Offences Wing of Delhi Police since FIR was filed in May this year till 8 am on November 17.
Fintechs are eyeing NBFC licences after RBI directed they must have skin in the game.
FIR by Economic Offences Wing alleges sham transactions and embezzlement of ₹71.76 crore by the accused
The company says that the acquisition is in line with BharatPe's vision to be at the forefront of addressing the credit gap for businesses and users across the country.
The development comes months after Koladiya’s departure from BharatPe in August last year.
The fintech unicorn will launch online payment aggregator business upon the receipt of the final authorisation.