Ashneer Grover is one of India’s most talked-about entrepreneurs, best known for co-founding BharatPe, a fintech company that revolutionized digital payments for small businesses. His sharp business acumen, outspoken personality, and unconventional leadership style have made him a prominent figure in India’s startup ecosystem.

Early Life and Education

Born in Delhi, Ashneer Grover pursued B.Tech in Civil Engineering from IIT Delhi and later earned an MBA in Finance from IIM Ahmedabad. His strong academic background and financial expertise paved the way for a successful corporate career before he ventured into entrepreneurship.

Career Before BharatPe

Before launching BharatPe, Ashneer held leadership positions at major financial firms:

• Kotak Investment Banking – Worked in mergers and acquisitions, gaining deep insights into financial markets.
• American Express – Served as Head of Payments, understanding the global fintech landscape.
• PC Jeweller – Led business expansion, bridging the gap between traditional retail and digital payments.

These experiences gave him the knowledge and confidence to start his own fintech venture.

The Birth of BharatPe

In 2018, Ashneer Grover co-founded BharatPe with the goal of empowering small merchants and kirana store owners with zero-cost digital payments. Unlike other payment solutions that charged transaction fees, BharatPe introduced:

• QR Code-based UPI payments with no merchant discount rate (MDR).
• Instant settlements to improve cash flow for small businesses.
• Merchant credit solutions, offering loans without collateral.

Rapid Growth and Market Disruption

Under Grover’s leadership, BharatPe became one of India’s fastest-growing fintech startups, achieving:

• A merchant base of over 7.5 million in just a few years.
• A loan book of over ₹3,000 crore, supporting small businesses with credit.
• Acquisition of PMC Bank, leading to the launch of Unity Small Finance Bank in partnership with Centrum Group.

BharatPe’s disruptive approach challenged existing financial giants, making digital transactions more accessible to the unorganized retail sector.

Controversies and Exit from BharatPe

Despite BharatPe’s success, Ashneer Grover’s journey took a dramatic turn in 2022. A series of allegations related to financial mismanagement and internal conflicts led to his resignation from BharatPe. The controversy sparked debates about governance and leadership in Indian startups.

However, Grover remained undeterred, leveraging his fame to write a book, “Doglapan”, in which he candidly shared his experiences, struggles, and opinions on the startup world.

Future Endeavors: Third Unicorn

Post-BharatPe, Ashneer Grover announced his new startup, Third Unicorn, with a promise to build a billion-dollar company without relying on traditional venture capital funding. The startup, though still under wraps, is expected to focus on fintech and digital innovation.

Conclusion

Ashneer Grover’s journey is a mix of brilliance, boldness, and controversy. While his aggressive leadership style has sparked debates, his contributions to India’s fintech revolution are undeniable. As he embarks on new ventures, his impact on the startup ecosystem will continue to be closely watched.