Concerns over employee ESOPs and a corporate restructuring with a move to a US holding company have evolved into a full-blown legal battle.
When founders leave an Indian startup, it's usually a silent affair. Whether because of a personal dispute, cultural problems or a better job offer, the departure isn’t publicized much. But in the case of Simpl, one of the early buy-now-pay-later fintech companies in India, what should have been a simple exit has turned into an ugly legal battle.
Simpl was founded in 2015 by Nityanand Sharma, a former Goldman Sachs banker, and Chaitra Chidanand, who has worked across IT, content marketing and venture capital. Over the last six years, it built a BNPL app that the startup says processes over …
Advait is a financial journalist and a former writer at The Morning Context. Here, he wrote on India’s banks, the wider financial services industry and the fintech ecosystem. He has previously worked with the Economic and Political Weekly, Business Standard, BloombergQuint and MediaNama, where he covered everything from the Reserve Bank of India to fintech policy.
Writer
advait@mailtmc.com
Mumbai