BENGALURU: New Delhi-based digital payments platform BharatPe has appointed former Walmart Labs executive, Ankur Jain, as its chief product officer. Jain will be responsible for the complete product life cycle and innovation at the startup.
Over the past couple of months, BharatPe, which equips merchants with digital payments solutions, has made several senior level hires, to strengthen its leadership team.
Jain is the third CXO to join BharatPe, in the last one month, with Nishit Sharma, the company’s CHIEF REVENUE OFFICER, and Nishant Jain BharatPe’s Chief Business Officer, joining the startup in May. In March, BharatPe also appointed Vijay Agarwal, as its Chief Technology Officer.
“We are at an interesting point in our growth phase that requires constant innovation and fast delivery of products for the rapidly evolving digital and financial needs of Indian shopkeepers. We are methodically getting the right people in the right positions to meet these requirements. Talent will be our biggest differentiator," said Ashneer Grover, co-founder and CEO, BharatPe.
Prior to BharatPe, Jain, a Stanford University alumnus, was the CEO and co-founder of travel-based startup Instalocate. He also worked at Walmart Labs as Senior Director of Product Management where he developed Artificial Intelligence (AI) based products for merchants.
Founded in 2018, BharatPe equips merchants with digital payment and financial services solutions, providing them with an interoperable UPI QR code, as well as loaning them cash advance, through its NBFC (non-banking financial company) arm.
The startup currently claims to be serving over 4 million merchants across the country, and claims to process more than 50 million UPI transactions a month, registering a total payment volume of $2.7 billion on an annual basis.
The company also stated that it has disbursed more than 25,000 loans worth ₹150 crores to merchants till date.
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