BharatPe CMO Parth Joshi Quits To ‘Pursue An Entrepreneurial Journey’

Fintech major BharatPe’s chief marketing officer Parth Joshi is stepping down from his position to ‘pursue an entrepreneurial journey.’

Joshi started his journey with BharatPe in 2021 and is on the verge of completing his 4-year stint with the company. 

“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,” a BharatPe spokesperson said.

Prior to joining BharatPe, Joshi worked with notable companies like consumer goods brand Reckitt, global pharmaceutical manufacturer GSK and L’Oreal. 

Entracker reported the development first.

The development comes at a time when BharatPe recently raised a debt funding of INR 150 Cr from Neo Wealth and Asset Management and Trifecta Capital. With this funding, the company is planning to achieve EBITDA profitability in the financial year ending March 2025 (FY25). 

Additionally, the company’s parent entity Resilient Innovations is also looking to sell its stake in Unity Small Finance Bank (Unity SFB). It is planning to raise 800 Mn by selling 25% of its stake in the bank.

Besides, last month the company launched a new initiative ‘Shield’ to protect its users from falling prey to digital transaction frauds. As per this initiative, users making their first UPI transaction with the BharatPe App will receive 30 days of complementary fraud protection for amounts up to INR 5,000.

On the financial front, the company claimed that its consolidated revenue for FY24 grew 39% to INR 1,426 Cr ,up 39% from INR 1,029 Cr in FY23.