BharatPe, a fintech business, said on Tuesday that Nalin Negi has been promoted to CEO.

Under his leadership as temporary CEO and CFO, BharatPe's revenue from operations increased by 182 percent in FY23, with October being the first EBITDA positive month.

BharatPe stated it will now look for a new CFO.

"Negi's extensive experience in the fintech industry, as well as the growth that BharatPe has seen under his leadership, make him an obvious choice to lead the company," said Rajnish Kumar, Chairman of the Board at BharatPe.

Negi joined BharatPe in 2022. As CEO, he will lead the firm into its next phase of growth, pushing innovation to empower merchants across the country.

"Going forward, our strategic focus will be on sustained profitability, scaling lending businesses, and launching new merchant-centric products," Negi said in a statement.

"We are committed to building on the strong foundation, fostering financial inclusion and delivering value to our merchants, partners, and stakeholders," he said.

Before joining BharatPe, he held top executive positions with financial services firms like as SBI Cards and GE Capital.

BharatPe has a strong network of over 1.3 crore merchants in over 450 locations and is a market leader in UPI offline transactions, handling over 370 million transactions.