Suhail Sameer, Indian fintech BharatPe CEO, will resign

After removing its founder for misusing company funds last year, Suhail Sameer will be leaving BharatPe’s chief executive position.

New Delhi-based startup, backing by Sequoia India. Tiger Global. Coatue. Dragoneer. Ribbit Capital. Sameer will be moving to a position as a strategic adviser on January 7. The current chief financial officer Nalin Nalin Negi will become interim chief executive.

“We have recognized the need to dedicate time and resources to finding the leader who will continue to catapult BharatPe to new heights, and we are grateful for the commitment from Suhail and Nalin. As we continue our mission to empower millions of MSMEs, we look forward supporting Nalin Negi as interim-CEO.” Rajnish Kumar (Chairman of BharatPe Board) released a statement.

Ashneer Grover, founder of BharatPe, is following the move resigning last year After a bizarre public confrontation with the startup’s board. They alleged that Grover had misappropriated company funds. Grover and Madhuri Jain were also sued by the startup last month for damages in excess of $10.7million.

Sameer assumed the role of CEO in the second quarter 2021. Grover stated that Sameer had a history of sexual misconduct as the relationship fell apart. become the “board’s puppet” Grover was under investigation by the startup.

Indian newspaper Mint first reported Information about Sameer’s departure on Tuesday.