Dhruv Dhanraj Bahl, the former Chief Operating Officer (COO) of BharatPe, is set to step down from the company in September, according to sources cited by The Economic Times. Bahl, who had recently been reassigned as the Chief Business Officer for the merchant lending division, will be departing the fintech firm amidst a series of high-level resignations that the company has witnessed over the past year and a half.
Bahl’s departure follows a strategic move by BharatPe to bolster its lending operations through the acquisition of a controlling stake in Mumbai’s Trillion Loans, a non-banking financial company (NBFC), in May. Merchant lending has emerged as a significant revenue source for the company, facilitating loans exceeding ₹500 crore monthly for its merchant partners.
The fintech firm has experienced a succession of high-profile resignations, starting with the exit of its founder Ashneer Grover in early 2022. Co-founder Bhavik Koladiya, responsible for the company’s technological foundation, also left shortly after. This trend continued with over a dozen more resignations primarily concentrated within the technology and product divisions.
Dhruv Dhanraj Bahl played a pivotal role in overseeing the reorganization of BharatPe following Grover’s exit. He joined the company in 2020 as the Head of Operations and later assumed the role of COO. Bahl’s departure has sparked speculation about his next steps, with sources suggesting that he may establish an early-stage investment firm, aligning himself with former colleagues Suhail Sameer and Bhavik Koladiya, although details remain undisclosed.
In response to Bahl’s departure, a company spokesperson stated, “We would like to confirm that Bahl is moving on from BharatPe to pursue his entrepreneurial passions. He has been an integral part of the organisation and contributed to the growth of the company.”
BharatPe’s journey in the fintech landscape has been marked by significant changes and challenges, with various executives leaving to pursue their own entrepreneurial ventures. As the company navigates this period of transition, it remains focused on its merchant lending operations and its broader mission within the fintech ecosystem.