BharatPe’s personnel problem

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Editor's note: For Nalin Negi, BharatPe’s newly appointed interim chief executive, the biggest challenge in the coming months will be to stem the ongoing attrition wave at the Sequoia-backed fintech. Over the past seven months, the startup has lost several key top-level executives, including members of its founding team. And the trend seems to be continuing in 2023. At least two more senior executives at BharatPe have tendered their resignations over the last month, I have been told by an industry executive tracking the firm closely. These are Kanika Sehgal (head of lender partnerships and operations) and Anjan Mehrotra (head of risk and consumer lending). In response to our mailed queries, a BharatPe spokesperson sent the following response: "BharatPe is experiencing normal churn of people as it readies itself for the next phase of its growth. As a matter of fact, our annualized attrition has dipped by close to 25% as compared to last fiscal. We have already made several new appointments including a CFO, CHRO, CISO, and Head of Internal Audit. Our total headcount has increased by 17%. None of our …