*BharatPe Appoints Suhail Sameer (Ex – McKinsey / RPSG) as Group President*
Suhail Sameer will be working closely with CEO Ashneer Grover and the Board to build a robust financial service business and create new revenue lines on top of BharatPe’s rapidly expanding merchant network
New Delhi, August 13, 2020: BharatPe, India’s largest merchant payment and lending network company, has further fortified its leadership team by appointing Mr. Suhail Sameer as Group President. Suhail along with CEO & Co-Founder Ashneer Grover will have overall responsibility for building the organization, merchant network, business, and revenue.
An IIM Lucknow and DCE alumnus, Suhail is the first Group President at BharatPe and will have all the CXOs report into him. Winner of Economic Times Most Promising Leader of Asia Award, Suhail has extensive experience of working with companies from the Consumer (FMCG, retail) and consumer technology sectors, and with Institutional investors. He has built businesses from scratch, as well as helped turn around and grow existing companies.
Featured as Business World 40 under 40 in the year 2019, Suhail at RP-Sanjiv Goenka Group, launched and scaled the multi-brand FMCG business for the Group. He also set-up and led their consumer VC fund, RPSG Ventures. Additionally, he drove growth and portfolio decisions across many group companies. Suhail is also the Managing Partner at OTP Venture Partners, which invests in early-stage companies across consumer, consumer tech, and SaaS spaces.
In his early career, Suhail led McKinsey’s clean-tech practice for South Asia and the Power practice for India.
Mr. Ashneer Grover, Co-Founder & CEO, BharatPe, said, “I am super excited to welcome Suhail Sameer in his new role as the Group President. Suhail is a top-class professional operator and has remarkable track record of delivering – whether it is building businesses ground up or managing conglomerates. The Founders and the Board are extremely excited to entrust Suhail with building the business and revenue on back of BharatPe’s brand and network, that has been created over last 2 years. Look forward to him leading us to 10X growth from here on.”
Mr. Suhail Sameer, Group President, BharatPe, said, “There is hardly another startup better positioned to solve merchant’s capital and payment requirements in the country than BharatPe. I have been in touch with Ashneer and the team for over a year now, and I have immense conviction in the mission of the company. BharatPe has emerged even stronger from the current COVID scenario, doubling its market share, which is truly remarkable.
I am excited to work with BharatPe team and Ashneer to build a category leading business with best in class economics.“, Suhail added.
BharatPe was co-founded by Ashneer Grover and Shashvat Nakrani in 2018 with the vision to make financial inclusion a reality for Indian merchants. BharatPe launched India’s first UPI interoperable QR code, first ZERO MDR payment acceptance service, first UPI payment backed merchant cash advance product, and the only P2P NBFC investment product. In 2020, post Covid, BharatPe also launched India’s only ZERO MDR card acceptance terminals – BharatSwipe. Currently serving over 40 lakh merchants across 35 cities, the company has grown business 30x in 2019 and is the leader in UPI offline, processing 5 crore+ UPI transactions a month (annualized TPV of US$ 3.5 Bn). The company has already disbursed more than 35,000 loans (Rs. 175 crores).