BharatPe’s former co-founder and managing director Ashneer Grover today lashed out at Fintech firm BharatPe’s chairman Rajnish Kumar and BharatPe’s CEO Suhail Sameer.
So I just heard @bharatpeindia closed it’s first quarter of ‘degrowth’ and ‘maximum cash burn’ under able (sic) leadership of Rajnish Kumar and Suhail Sameer. ‘Chaabi chheenna and hatti chalana do alag alag skills hai !’ Ab Nani yaad aayegi – markets are the ultimate test & truth
— Ashneer Grover (@Ashneer_Grover) April 7, 2022
BharatPe rose to fame for its services for its shop owners to get or transfer money digitally using its QR codes from any UPI payment gateway for free. Merchants can drive their payments directly to their bank accounts and can earn 12% interest on those transactions and avail of bank loans. BharatPe eased the payments by giving a single QR code to accept payments from PhonePe, GPay, BHIM, and 150+ UPI apps.
BharatPe in March this year had asked their cofounder and MD Ashneer Grover to step down from his position in January this year after a 3rd party audit revealed massive financial discrepancies under his leadership. The Fintech company asked Ashneer to step down and removed his title and photos from their official website in tandem with the audit report alleging Ashneer and his wife Madhuri Jain grossly abused their position and power and robbed the company of several lakhs for their lifestyles.
Ashneer hails from Delhi and he rose to fame after Shark Tank India appointed him as one of the judges along with 6 other VCs. Shark Tank is a popular show where it allows entrepreneurs to present their products/businesses to get investment against equity.
He was a well-known “shark” judge on the Shark tank show, and his one-liners were at times brutal and his comments were straightforward forward giving the necessary push for memes to go viral on social media.