Latest news with #BharatPe
Time of India
29 minutes ago
- Time of India
Scammers swap scanners, dupe scooter mechanics in Mohali
Mohali: A case of digital fraud has come to light at the scooter market in Phase 7 in which scammers reportedly pasted their own QR code scanners over existing payment scanners used by mechanics, diverting customer payments into their personal accounts. The incident was reported by Gurvinder Singh Sohal, head of the scooter market association, who said mechanics in the market typically display QR codes for digital payments via platforms like Paytm, Google Pay, and BharatPe at their booths. However, someone allegedly visited the market premises at night and placed duplicate scanners on top of the original ones. The fraud came to light the next morning when a mechanic noticed that he had not received a payment made by a customer through a QR code. On closer inspection, mechanics found that the original scanner had been tampered with and another code had been pasted over it. Fortunately, the fraud was detected quickly, preventing widespread losses. However, two mechanics suffered financial setbacks — Mani Singh lost Rs 300 and Rajesh Kumar lost Rs 500 due to the payments being redirected to a different account. The mechanics managed to retrieve the name and mobile number linked to the fraudulent scanner, but the person denied any involvement when contacted. The scooter market association is now filing a formal complaint with the local police, seeking an investigation and strict action against the fraudster. "This is a serious breach of trust and a targeted attempt to cheat hardworking mechanics. We urge the authorities to investigate the matter swiftly and ensure no one else falls victim to such a scam," said Sohal. However, police said they are yet to receive a formal complaint to register a FIR in this regard.
Business Standard
24-05-2025
- Business
- Business Standard
AI Veteran & Ex-CXO of BharatPe, Jindal Steel, Ritesh Srivastava, Launches Tavastra: World's First Residential Co-Creation Accelerator in the Himalayas
VMPL Gurugram (Haryana) [India], May 24: After a distinguished 16-year career at the forefront of Data, AI, and Technology leadership, including pivotal CXO roles at industry giants Jindal Steel and pioneering fintech unicorn BharatPe, Ritesh Srivastava today announced the launch of Tavastra ( Tavastra is set to be the world's first 100% residential, co-creation-focused startup accelerator, with its inaugural cohort launching in the serene environs of Chail, Himachal Pradesh. As an active angel investor himself, Srivastava has witnessed firsthand the critical gaps and challenges faced by early-stage founders in India. This experience has driven Tavastra's unique model, designed to provide deep, hands-on support beyond traditional mentorship. "For too long, early-stage founders have navigated a path filled with immense potential but also significant hurdles - from securing meaningful seed capital and expert guidance to simply finding the focused environment needed to build," said Ritesh Srivastava, Founder & CEO of Tavastra. "Having been on both sides of the table, as an operator scaling businesses and as an investor, I saw the need for a new paradigm. Tavastra is built to be that deeply embedded co-creator, providing an unparalleled immersive ecosystem where innovation, execution, and well-being can thrive together." The Tavastra Difference: Tavastra's 12-week, fully residential program is not just about advice; it's about active participation. Key differentiators include: -Hands-On Co-Creation: An expert in-house and partner team (spanning Ideation, Legal, Tech, UI/UX, Branding, Marketing, and Fundraising) actively builds the MVP alongside the founders. -True Immersion: A distraction-free environment in inspiring locations like Chail, allowing founders to live, breathe, and build their startups with intense focus and a strong peer community. -Actionable Learning: A unique playbook syncing expert-led learning from top academics and proven unicorn founders directly with weekly MVP build milestones. -Engaged Angel Partnership: Pre-vetted angel investors provide not just capital but also become active mentors, deeply invested in the startups' success. Srishti Jain, co-founder and COO of Tavastra, will join Ritesh in bringing this vision to life. Srishti brings a wealth of experience in building products, scaling operations, building communities, and driving growth from her impactful roles at leading global technology companies such as LinkedIn and high-growth environments like Salesforce. "The intensity and holistic support of a residential, co-creation model can dramatically alter a startup's trajectory," said Srishti Jain. "Tavastra is committed to providing that transformative experience, ensuring our founders have every tool, resource, and the right environment to turn their vision into a fundable, market-ready reality." Applications Live for Inaugural Chail Cohort: Tavastra is now inviting applications from passionate early-stage founders (idea, pre-MVP, or pivot stage) across all sectors for its inaugural 12-week cohort commencing September 2025 in Chail, Himachal Pradesh. Selected startups will receive seed funding, comprehensive co-creation support, mentorship, and complete residential facilities. Interested founders can learn more and apply at
India Today
23-05-2025
- Business
- India Today
What makes venture capitalists bet big money on Indian start-ups?
Raising investment money is a theme that keeps entrepreneurs awake at night—a central point of discussion during the session 'Seeding Tomorrow: Big Ideas, Smart Capital' at the recent Indo-UAE Conclave 2025 organised by the India Today Group in Kumar, chairman of BharatPe and former chairman of the State Bank of India, highlighted how 'international capital, in particular, doesn't go anywhere for the love of that country'. 'It goes where it can earn a decent return—or rather, the best return—compared to any other opportunity,' he unpacked the term 'smart capital' as capital that not only spots opportunities and takes risks (as venture capitalists are known to do) but also blends entrepreneurship and young energy with seasoned experience. 'People with grey hair—or no hair,' he quipped, are essential to this mix. 'If you have a blend of experience, youthful energy, and fresh ideas—especially those solving real problems—then there are good returns to be made.'Kumar stressed that each venture capital (VC) fund has its own investment philosophy, which influences the sectors it focuses on. Some venture capitalists take a long-term view, examining governance structures, founders and institutional history before making bets. Others chase quick returns, looking for short-term gains. He elaborated on the key factors venture capitalists consider before investing in a start-up: the probability of the venture and how the company will be run and governed. Here, he noted, experienced leadership plays a crucial role in preventing governance pitfalls—something that has plagued a few Indian start-ups in recent there is a different type of capital on the demand side and a different type of company on the supply side. You have to match your investment philosophy with the opportunities available,' he Balachandran, executive chairman and CEO of Buimerc Corporation, shared his own philosophy of 'permanence', wherein he looks for democratic markets and institutions that reflect those values. His first investment in India was in the Bombay Stock Exchange, which grew from a market cap of Rs 2,000 crore to over Rs 1 trillion in just 15 also addressed the idea of risk, calling it 'a clichd and often misunderstood concept'. According to him, India's true potential isn't defined by currency values but by the scale and energy of its 1.4-plus billion identified banks and financial institutions as key sectors for both revenue generation and long-term wealth creation. He described them as a 'multi-tiered growth opportunity'—not limited to new-age or nationalised banks but spread across the entire sector. 'Every institution in that space is an explosion of wealth waiting to happen,' he said.'I've started accruing [investments] in this space, and my accrual process takes a few years. But I've begun—with SBI as my first, and LIC (Life Insurance Corporation of India) as my second. These are the kind of big opportunities I'm looking at.'advertisementSubscribe to India Today MagazineMust Watch
Business Mayor
14-05-2025
- Business
- Business Mayor
BharatPe CTO Pankaj Goel resigns citing personal reasons
Goel is currently serving his notice period. Entrackr was the first to report the news on Wednesday. Speaking on condition of anonymity, sources told ET that BharatPe has not yet initiated the search for Goel's replacement. At BharatPe, Goel led the technology team and drove the group's innovation strategy. His appointment followed a seven-month vacancy after the departure of former CTO Vijay Aggarwal in November 2022. Before joining BharatPe, Goel served as senior vice president and head of payments engineering at payment aggregator Razorpay, where he superheaded execution and strategy for the company's core payments infrastructure. Broader leadership churn Goel's exit comes in the wake of several senior leadership departures at BharatPe. Alongside Aggarwal, other executives who left in late 2022 included Nehul Malhotra (head of buy-now-pay-later), Rajat Jain (chief product officer for lending and consumer products), and Geetanshu Singla (vice president, technology).Goel reported to Nalin Negi, chief financial officer and interim CEO of BharatPe who took over Suhail Sameer in 2023. With a career spanning over 31 years, Goel has held leadership roles at companies including Intuit—where he spent a decade as a product development leader—as well as Trilogy, Schlumberger, Videocon Telecommunications, Sun Microsystems, NetGuru, and Netscape Communications. His experience spans the consumer, small business, and enterprise sectors. He has led development across web, mobile, and desktop platforms, overseeing product strategy, engineering execution, data management, and user experience. IPO plans Goel's resignation comes at a time when the Reserve Bank of India (RBI) has granted final authorisation to Resilient Payments, a BharatPe group company, to operate as an online payment aggregator. Founded in 2018, BharatPe now operates in over 450 cities with a merchant network of more than 1.3 crore. It processes over 450 million UPI transactions monthly, with an annualised transaction value exceeding Rs 1.7 lakh crore, ET reported in April. The company is also exploring the launch of mutual funds and insurance products as its next major offerings, Negi said earlier. He estimated an additional 18 to 24 months for the company to streamline its processes and stabilise operations, with plans of public listing on the roadmap. Since its inception, BharatPe has raised over $600 million in equity funding. It was last valued at $2.7 billion in 2021. Key investors include Peak XV Partners, Coatue, and Ribbit Capital.
Economic Times
14-05-2025
- Business
- Economic Times
BharatPe CTO Pankaj Goel resigns citing personal reasons
Pankaj Goel, who joined BharatPe as chief technology officer (CTO) in July 2023, has resigned from the company, citing personal reasons, according to sources familiar with the is currently serving his notice period. Entrackr was the first to report the news on on condition of anonymity, sources told ET that BharatPe has not yet initiated the search for Goel's BharatPe, Goel led the technology team and drove the group's innovation strategy. His appointment followed a seven-month vacancy after the departure of former CTO Vijay Aggarwal in November 2022. Before joining BharatPe, Goel served as senior vice president and head of payments engineering at payment aggregator Razorpay, where he superheaded execution and strategy for the company's core payments infrastructure. Broader leadership churn Goel's exit comes in the wake of several senior leadership departures at BharatPe. Alongside Aggarwal, other executives who left in late 2022 included Nehul Malhotra (head of buy-now-pay-later), Rajat Jain (chief product officer for lending and consumer products), and Geetanshu Singla (vice president, technology).Goel reported to Nalin Negi, chief financial officer and interim CEO of BharatPe who took over Suhail Sameer in a career spanning over 31 years, Goel has held leadership roles at companies including Intuit—where he spent a decade as a product development leader—as well as Trilogy, Schlumberger, Videocon Telecommunications, Sun Microsystems, NetGuru, and Netscape experience spans the consumer, small business, and enterprise sectors. He has led development across web, mobile, and desktop platforms, overseeing product strategy, engineering execution, data management, and user experience. IPO plans Goel's resignation comes at a time when the Reserve Bank of India (RBI) has granted final authorisation to Resilient Payments, a BharatPe group company, to operate as an online payment aggregator. Founded in 2018, BharatPe now operates in over 450 cities with a merchant network of more than 1.3 crore. It processes over 450 million UPI transactions monthly, with an annualised transaction value exceeding Rs 1.7 lakh crore, ET reported in company is also exploring the launch of mutual funds and insurance products as its next major offerings, Negi said estimated an additional 18 to 24 months for the company to streamline its processes and stabilise operations, with plans of public listing on the its inception, BharatPe has raised over $600 million in equity funding. It was last valued at $2.7 billion in 2021. Key investors include Peak XV Partners, Coatue, and Ribbit Capital.
