BharatPe to hire 100 people for tech roles in FY22

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Fintech firm BharatPe on Monday said it will hire 100 people across various roles for its technology team in the current financial year. The company, which is planning to launch a slew of products in the merchant and consumer lending space, said it will be almost tripling the strength of its technology team and hiring 100 more members.

It has also advanced the appraisals of its technology team by eight months, and the team has earned 75 per cent increments split between CTC and incremental ESOPs, effective July 1, 2021, according to a statement.

Currently, the company has around 60 employees in its technology team.

The skill sets BharatPe is hiring for include Android, backend, web, iOS, DevSecOps, data engineering, POS/IoT, and QA (Automation), and the experience level being sought ranges from 2-16 years.

“BharatPe is a tech-first fintech. As we build the next generation of banking in India, we want to invite and excite the best tech talent to work with us on building market leading products at scale,” BharatPe Co-Founder and CEO Ashneer Grover said.

BharatPe will, therefore, be taking the lead in tech talent compensation in India because that is the only real investment its business needs given the capital efficiency of its model, he added.

At present, BharatPe provides a single interface for all existing UPI apps and allows merchants to accept UPI payments for free, through the BharatPe QR. It also supports merchants to access credit and other value-added services.

The company counts Coatue Management, Ribbit Capital, Steadview Capital, Beenext and Sequoia Capital, among others, as its investors. It has raised close to USD 300 million in equity and debt till date.

Last month, the company announced the acquisition of Payback India, the country’s largest multi-brand loyalty programme company with over 100 million members. In the same month, it also received an in-principle approval from the Reserve Bank to establish a small finance bank, in partnership with Centrum Financial Services Ltd (Centrum).

Source: PTI

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