BharatPe chief executive Sameer Suhail has told staff that none of the charges against the company will have any influence on the company’s “mid to long term health.”
The CEO of BharatPe has asked them to “trust” the company’s board of directors.
Employees from various functions, including business, operations, and products, have applied to other firms, as many are stunned by the hazy information that has emerged about the company and its co-founder Ashneer Grover in recent weeks.
“In the last week, we’ve received hundreds of BharatPe CVs. At last count, there were over 400. This is true across all functions, including business, finance, and sales “, a fintech founder told Moneycontrol, emphasizing the anxiety and uncertainty gripping BharatPe employees as a power struggle between co-founder Ashneer Grover and the board rages on.
It’s a quick slide for BharatPe, which made headlines last year for giving away BMW bikes and Dubai workcations to entice engineers in an unprecedented war for talent.
This entrepreneur is not alone. According to sources, around 400 BharatPe employees have applied for positions at other fintech, lenders, and startups in the midst of a government investigation into alleged fraud and misgovernance at one of India’s hottest startups.
Employees from various functions, including business, operations, and products, have applied to other firms, as many are stunned by the hazy information that has emerged about the company and its co-founder Ashneer Grover in recent weeks. While many employees have already begun working for some of these companies, many more are still on notice. While the current personnel count was not disclosed, industry insiders estimated that BharatPe may have 600-1000 people, implying that roughly half of them are looking to leave.
Grover’s hurried leave of absence, which turned into a full-fledged struggle with his investors, has left colleagues perplexed and concerned. Despite the fact that Sameer has been CEO for over a year, employees still saw BharatPe as Grover’s firm (despite the fact that he owns only 9.5 percent of it), and while his leaving came as a relief to some, it also generated confusion.
“We’re on a great path. In terms of revenue and profitability, January 2022 was our strongest month ever. “Both Centrum and our teams are working hard to establish India’s first entirely digital bank – Unity SFBank,” Sameer wrote in an email to workers.
Meanwhile, current CEO Suhail Sameer has been reassuring employees more often in recent weeks, primarily via email, but most employees are still stunned and find it difficult to accept that their employer is deceptive.
According to three current employees interviewed by Moneycontrol, Sameer has been encouraging them to disregard media reports, “avoid gossip,” and focus on their work.
