New Delhi, April 16 (IANS): Fintech company BharatPe on Tuesday announced the elevation of Nalin Negi as its Chief Executive Officer (CEO).

Under him as an interim CEO and CFO, BharatPe recorded 182 per cent increase in revenue from operations in FY23 and clocked October as the first EBITDA positive month.

BharatPe said it will now search for a new CFO.

"Negi's extensive experience in the fintech industry and the growth witnessed for BharatPe under his leadership, makes him a natural choice to lead the company," said Rajnish Kumar, Chairman of the Board, BharatPe.

Negi joined BharatPe in 2022. As the CEO, he will focus on leading the company into its next phase of development, driving innovation to empower merchants across the country.

"Going forward, our strategic focus will be on sustained profitability, scaling lending businesses, and launching new merchant-centric products," said Negi.

"We are committed to building on the strong foundation, fostering financial inclusion and delivering value to our merchants, partners, and stakeholders," he added.

Prior to joining BharatPe, he held senior leadership positions at financial service companies including SBI Cards and GE Capital.

BharatPe has an entrenched network of over 1.3 crore merchants across more than 450 cities, and is one of the leading players in UPI offline transactions, processing over 370 million UPI transactions.