BharatPe appoints two new heads as it turns profitable

BharatPe has strengthened its top management with two key appointments.

Rajesh C has been named head of finance, overseeing finance, treasury, and taxation. He previously held senior roles at SBI Card, ABN Amro-RBS, and GE Capital.

Himanshu Nazkani joins as head of investments to lead the company’s investments and insurance strategy, covering mutual funds, digital gold, fixed deposits, and insurance.

He was earlier vice president of strategy at CarDekho Group.

The Delhi-based fintech platform reported its first annual profit for FY25. Adjusted profit before tax stood at 6 crore rupee (US$689,424), compared to a 342 crore rupee (US$3.9 million) loss a year earlier.

Revenue rose to 1,734 crore rupee (US$199.2 million), while EBITDA, excluding ESOP costs, turned to a 141 crore rupee (US$16.2 million) surplus from a 209 crore rupee (US$24 million) deficit.

A top executive said BharatPe plans to raise funds before a potential IPO, depending on market conditions.

🔗 Source: YourStory

🧠 Food for thought

1️⃣ Strategic hiring signals IPO preparation amid cautious market timing

BharatPe’s appointment of Rajesh C, who has specific IPO readiness experience from SBI Card, demonstrates how fintechs are building the necessary infrastructure for public listings even while waiting for optimal market conditions1.

This strategic hiring comes as BharatPe achieved its first annual profit of Rs 6 crore after a Rs 342 crore loss the previous year, positioning the company among the growing number of profitable fintechs preparing for public markets1.

The timing reflects broader market dynamics where 20 startups are preparing for IPOs as of early 2025, but execution remains cautious, with only 4 listings materializing despite 22 companies filing draft documents in recent periods2.

BharatPe’s stated approach of raising pre-IPO funds but waiting for “favorable market conditions” mirrors industry-wide caution, as primary markets are expected to raise $18 billion in the latter half of 20253.

The company’s revenue growth to Rs 1,734 crore combined with operational profitability creates the fundamental strength that current IPO markets are demanding from fintech candidates.