Ashneer Grover, the former Founder, Managing Director, and Chief Executive Officer (CEO) of BharatPe, has accused Suhail Sameer, the CEO of the merchant payments platform, of seizing credit for the gold load vertical Grover had developed. According to Business Insider, the entrepreneur said over a year ago that he engaged Nikhilesh Govil, the head of BharatPe's gold lending section, to develop and expand up this sector.
According to the report, Ashneer Grover and Nikhilesh began the vertical six months ago, and it has already spread to three cities: Delhi, Bengaluru, and Hyderabad. Grover allegedly added that BharatPe had "peddled another untruth" by launching a Gold Loan under Suhail. He stated he brought his ex-colleague Nikhilesh from Kotak, PCJ, to help establish the Gold Loan business a year ago. Grover was quoted by Business Insider as saying, "Suhail has no contribution (sic) and is selling lies because he hasn't been able to implement even items that I had planned in the last three months."
“As part of BharatPe growth journey, we officially announced our foray into gold loan yesterday. The product was in beta mode over the course of the last few months and is now officially available for all merchant partners in Delhi NCR, Bangalore and Hyderabad. We do not intend to respond to baseless allegations,” BharatPe's spokesperson said.