Ex-BharatPe CEO Ashneer Grover to raise $200 mn for new business: Report  

Co-founder and former Chief Executive Officer (CEO) of fintech startup BharatPe Ashneer Grover is looking forward to coming back to the world of business after a long sabbatical. The former BharatPe CEO is in talks with US-based family offices and offshore private equity (PE) players to raise $200 million.  

News outlet LiveMint reported that Grover might use his personal wealth to begin with. It further laid out two eventualities of fundraising—selling part of his BharatPe stake or raising fresh capital by issuing a stake in the new company.  

While details about Grover’s new business venture are still not known, he said on his 40th birthday that it is “time to disrupt another sector” and it’s time for the third unicorn. Grover tweeted, “Today I turn 40. Some will say I’ve lived a full life and experienced more things than most. Created value for generations. For me, it’s still unfinished business. Time to disrupt another sector. It’s time for the third unicorn!!” 

Grover has also been in the news after his public dispute with Kotak Mahindra Group. An audio clip allegedly featuring the former BharatPe CEO and a family member talking with a Kotak Group employee for not getting an allotment in Nykaa’s initial public offering (IPO) went viral.  

This was followed by Grover sending a legal notice to Kotak Mahindra Bank wherein he sought damages from Uday Kotak and alleged the bank of declining financing for a personal investment. Kotak Group then reverted to the notice and placed on record its objections to Grover’s inappropriate language.  

On January 19, Grover announced he is taking a voluntary leave of absence from the company till March-end. His last public appearance was as a shark on the entrepreneurship-based Shark Tank India.  

Read More: Ex-BharatPe CEO Ashneer Grover to raise $200 mn for new business: Report  

Notify of
Inline Feedbacks
View all comments