BharatPe’s co-founder and tech backbone Bhavik Koladiya quits

BharatPe’s co-founder Bhavik Koladiya has ended his partnership with the company due to disagreements with the fintech company’s management, two people who were aware of the matter said.

Koladiya, who led BharatPe’s product and technology business and formally served as a consultant for BharatPe’s data, broke off his partnership with the company in the last week of June “due to disagreements with the company’s CEO (Suhail Sameer),” of the said people, who asked for anonymity.

Shortly after the departure of Ashneer Grover, the other co-founder and director of BharatPe, in March, after a three-month public row with the board of directors, Koladiya decided to “take criminal action against Ashneer to get his shares back.” (which Grover held on behalf of Koladiya). The company’s investors also insured Koladiya from outside.”

But just a week before he was due to approach a court in Delhi, Koladiya was asked not to pursue the case against Grover, the person said, “because a settlement was discussed” with the estranged director.

Grover was asked to leave the company over allegations of financial irregularities.

“You should not file a lawsuit against a shareholder. We are seeking a settlement with Ashneer,” added the person who was aware of the discussion between Koladiya and the company and asked for anonymity. After the conversation, Koladiya decided to end his ties with BharatPe, the person said. “Disagreement with Suhail aside, Bhavik he had already decided to focus on building something outside of BharatPe,” said the second person, also asking for anonymity.

“Bhavik Koladiya is an independent consultant associated with BharatPe, guiding our product and technology teams. His contract term expired on July 31, 2022 and he expressed a desire to devote time to other assignments outside of BharatPe. Bhavik has been one of our biggest advocates and has been an integral part of our journey to become one of India’s largest fintech companies. While we wish him all the best, we are also confident that he will continue to guide us in the future,” said a BharatPe spokesperson.

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