BharatPe cuts all links with its former co-founder and settles with Ashneer Grover.

Ashneer Grover, a co-founder of BharatPe, has cut all connections with the fintech powerhouse after settling in court. This is a major step. Grover and the company’s protracted and widely reported conflict concludes with this arrangement.
Grover, who established BharatPe in 2018, is giving up his 9.5% ownership and all of his responsibilities within the business. The parties have decided to cease any ongoing legal proceedings. The agreement is made at the same time as Grover’s brother-in-law, Deepak Gupta, is taken into custody by the Delhi Police’s Economic Offenses Wing.

In light of the company’s newfound focus on growth, expansion, and repairing its reputation ahead of its anticipated IPO, the board of directors of BharatPe praised the resolution. An official for the company stated, “This settlement marks a new chapter for BharatPe.”

BharatPe, which is valued at $2.5 billion, wants to take advantage of India’s growing fintech scene and put up a united front for prospective investors. Grover will now concentrate on his newest project, the medical loan app ZeroPe.

Important Points to Note:

• Following a court settlement, Ashneer Grover leaves BharatPe.
• Grover also gives up his role and 9.5% interest in the firm.
• The settlement and Deepak Gupta’s arrest occurred at the same time.
• BharatPe is valued at $2.5 billion. Grover will now concentrate on his new endeavor, ZeroPe.