Today I'll be sharing the story of the man who literally mastered all aspects of running a “dhanda“ and changed the face of #fintech domain in India.
He is none other than Ashneer Grover, who built BharatPe into one of the biggest fintech startups in India within just 4 years.
Ashneer Grover is an alumni of Indian Institute of Technology, Delhi (2000-2004) and was the second ranker in his department. He was selected for INSA Lyon exchange program and even got a scholarship from the French embassy. He got CGPA 10 during his last semesters at IIT, DELHI.
He secured 99.7 percentile in CAT and secured his seat in Indian Institute of Management Ahmedabad. During placements, he was hired by Kotak banking in their investment banking department. His stint at Kotak lasted from 2006 to 2013.
After this he joined the American express as Director of Corporate development and worked for 2 years. It was during this period that he understood every bit about the Indian payment industry.
In 2015, his classmate from IIT asked him to join Blinkit ( previously Grofers) as the CFO. Here he got introduced to the system in which shopkeepers handle their finances.
Since shopkeepers have low margins, they do not pay for services but are ready to pay interests on loans.
That's where the idea of building something for the shopkeepers hit him and he started working on it.
In the meantime he also worked with PC jewelers as the Head of new businesses.
Shashvat Nakrani who was an IIT dropout has a small startup Bharatpe that was for shopkeepers and small merchants and charged '0' commissions. Though there were already 1000 merchants and shopkeepers, no exact plan of monetization was there with Shashvat Nakrani.
That's when he met Ashneer. Ashneer from his past experiences knew that shopkeepers wouldn't pay anything except for the interests on loans.
So Bharatpe started lending out loans to smaller merchants and shopkeepers upto 7 - 8 lakhs with a very low interest. This attracted a huge number of merchants and till date almost 1 crore shopkeepers have received almost 5000 crores loans.
It also started its UPI transactions and recorded almost 12 crore UPI transactions every month.
Within 4 years Bharatpe was one of India’s biggest fintech startups and its valuation stood at $2.85 billion.
After resigning from Bharatpe in February 2022, he has recently announced that he's working on his next startup - Third Unicorn Pvt. Ltd.
His stint as a shark in Sony tv's Shark Tank India garnered him huge praises and a person who always reflects the right as right and wrong as wrong.
#ashneergrover #fintechstartup #sharktankindia
He is none other than Ashneer Grover, who built BharatPe into one of the biggest fintech startups in India within just 4 years.
Ashneer Grover is an alumni of Indian Institute of Technology, Delhi (2000-2004) and was the second ranker in his department. He was selected for INSA Lyon exchange program and even got a scholarship from the French embassy. He got CGPA 10 during his last semesters at IIT, DELHI.
He secured 99.7 percentile in CAT and secured his seat in Indian Institute of Management Ahmedabad. During placements, he was hired by Kotak banking in their investment banking department. His stint at Kotak lasted from 2006 to 2013.
After this he joined the American express as Director of Corporate development and worked for 2 years. It was during this period that he understood every bit about the Indian payment industry.
In 2015, his classmate from IIT asked him to join Blinkit ( previously Grofers) as the CFO. Here he got introduced to the system in which shopkeepers handle their finances.
Since shopkeepers have low margins, they do not pay for services but are ready to pay interests on loans.
That's where the idea of building something for the shopkeepers hit him and he started working on it.
In the meantime he also worked with PC jewelers as the Head of new businesses.
Shashvat Nakrani who was an IIT dropout has a small startup Bharatpe that was for shopkeepers and small merchants and charged '0' commissions. Though there were already 1000 merchants and shopkeepers, no exact plan of monetization was there with Shashvat Nakrani.
That's when he met Ashneer. Ashneer from his past experiences knew that shopkeepers wouldn't pay anything except for the interests on loans.
So Bharatpe started lending out loans to smaller merchants and shopkeepers upto 7 - 8 lakhs with a very low interest. This attracted a huge number of merchants and till date almost 1 crore shopkeepers have received almost 5000 crores loans.
It also started its UPI transactions and recorded almost 12 crore UPI transactions every month.
Within 4 years Bharatpe was one of India’s biggest fintech startups and its valuation stood at $2.85 billion.
After resigning from Bharatpe in February 2022, he has recently announced that he's working on his next startup - Third Unicorn Pvt. Ltd.
His stint as a shark in Sony tv's Shark Tank India garnered him huge praises and a person who always reflects the right as right and wrong as wrong.
#ashneergrover #fintechstartup #sharktankindia
