BharatPe’s Chief Marketing Officer (CMO), Parth Joshi, has announced his resignation to focus on his own entrepreneurial journey. This marks another significant departure from the fintech company, following a growing trend of key executives leaving to explore new ventures.
Joshi’s Career Journey
Parth Joshi took on the role of CMO at BharatPe in June 2021. Before joining the fintech unicorn, he had an extensive career in marketing, serving as the Head of Marketing at Reckitt for over five years. Joshi’s career also includes stints at global brands like GSK and L’Oréal, where he spent several years leading marketing efforts.
BharatPe’s Support for Joshi’s Decision
A spokesperson for BharatPe confirmed Joshi’s resignation, stating that they respect his decision to embark on his entrepreneurial journey. The spokesperson highlighted that BharatPe takes pride in fostering a culture that nurtures innovation, leadership, and entrepreneurship. The company remains supportive of individuals who aspire to make a meaningful impact and wished Joshi the best in his future endeavors.
Exits of Other Key Executives
Joshi’s departure is not an isolated case. Recently, BharatPe has witnessed several executive exits, including the Chief Human Resources Officer (CHRO), Smriti Handa, and Chief Data Scientist, Ritesh Mohan Srivastava. Handa is set to explore career opportunities abroad, while Srivastava has chosen to pursue his own entrepreneurial ambitions.
Rise of New Ventures Among BharatPe Alumni
The trend of BharatPe executives leaving to start their own ventures is growing. According to data from TheKredible, nearly a dozen former BharatPe executives have launched new startups and venture funds in the past couple of years. For instance, in April 2024, Ankur Jain, BharatPe’s former Chief Product Officer, launched Jivi.ai in the AI healthcare sector. Similarly, Genwise, founded by former BharatPe executives, raised funds in 2023.
BharatPe’s Growth and Future Plans
Despite the executive turnover, BharatPe is moving forward with plans for its initial public offering (IPO) in the next 18-24 months. The company reported a revenue of Rs 1,426 crore for the fiscal year ending in March 2024 and successfully reduced its consolidated losses by 50%, amounting to Rs 474 crore.
As the company continues to evolve, the entrepreneurial spirit of its former executives highlights a broader trend of innovation and new opportunities emerging within the Indian startup ecosystem.
