BharatPe CTO Pankaj Goel Quits

SUMMARY

While the outgoing CTO cited “personal reasons” for his departure, a person familiar with the development said that Goel quit to pursue other opportunities

An alumnus of NIT Warangal and IIM Bangalore, Goel joined BharatPe as CTO in 2023. He oversaw the technology team and led the innovation strategy across the company

BharatPe reported a consolidated net loss of INR 149 Cr and achieved breakeven on an adjusted EBITDA level in 9M FY25

Fintech major BharatPe’s chief technology officer (CTO) Pankaj Goel has resigned from the company due to “personal reasons”.

Sources told Inc42 that Goel tendered his resignation earlier this week after a near two year stint. While the outgoing CTO cited “personal reasons” for his departure, a person familiar with the development said that Goel quit to pursue other opportunities.

BharatPe declined to comment on Inc42’s queries on the resignation. The development was first reported by Entrackr.

Goel, an alumnus of NIT Warangal and IIM Bangalore, joined BharatPe as CTO in 2023. He oversaw the technology team and led the innovation strategy across BharatPe group of companies. Before this, he worked in various senior roles at fintech major Razorpay, financial services company Intuit and Sun Microsystems.

Notably, this is the second top-level departure at BharatPe in recent months. In February this year, the fintech major’s chief marketing officer Parth Joshi tendered his resignation to pursue his “entrepreneurial journey”.

How BharatPe Is Charting A Turnaround

The development comes at a time when the fintech major has been scripting a turnaround story under the leadership of Nalin Negi, who was elevated to the post of full-time CEO of the company last year.

BharatPe turned EBITDA profitable in October 2024. In March 2025, ratings agency India Ratings and Research (Ind-Ra) said that the company reported a consolidated net loss of INR 149 Cr and achieved breakeven on an adjusted EBITDA level in the first nine months (9M) of FY25. The startup claims to be on track to close FY25 as a fully EBITDA-positive business.

BharatPe clocked a revenue of INR 1,787.7 Cr in 9M FY25, surpassing INR 1,534.4 Cr revenue it recorded during the full FY24.

What has helped the company achieve this turnaround is its focus on offering a bouquet of services, including lending, merchant subscription, PoS devices, credit on UPI, online payments among others.

On the B2C side, it offers features such as loans, bill payments, credit card bill payments, third-party ecommerce coupons and its own loyalty and rewards programme. In October last year, the company also rolled out a separate wealthtech app, which offers P2P lending, gold loans, fixed deposits and more.

Last month, the fintech giant’s subsidiary Resilient Payments Private Limited also received the final approval from the Reserve Bank of India (RBI) to operate as an online payment aggregator (PA).