bharatpe: BharatPe rubbishes Ashneer Grover’s claims, says company registered strongest quarter in its history

NEW DELHI: Fintech unicorn BharatPe on Friday rubbished former founder Ashneer Grover’s claims that the company closed its first quarter of “degrowth” and “maximum cash burn”.
BharatPe registered the strongest quarter in its history, the company said in reply to Grover’s comments.
“Thanks to the commitment and hard work by our world class team, BharatPe registered the strongest quarter in its history,” said a BharatPe spokesperson. We have registered 4x growth in our overall revenue over the same period last year. On a sequential-quarter basis, the growth has been 30%, despite the third wave of Covid-19. Comparing month-on-month, all our metrics have grown at the fastest pace, i.e., merchant Total payments value, i.e., TPV (17%), consumer TPV (39%), loans facilitated (31%), and revenue (21%) in March 2022 over Feb 2022.
Grover on Thursday had tweeted “So I just heard BharatPe closed its first quarter of “degrowth” and ‘maximum cash burn’ under the able (sic) leadership of Rajnish Kumar and Suhail Sameer…ab nani yaad ayegi”,
“Going forward, we are tracking well to break even on our merchant business and further strengthen our consumer business,” said the spokesperson adding that Grover is a former employee who no longer possesses business information.

Indianshri

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